Stock Market Operators set to face competition by year end

ASIC says competition among stock market operators in Australia will be allowed later this year.

ASIC says the decision will allow Chi-X to begin operating, if it meets all of ASIC's conditions, in October or November.

ASIC says it will release its final market integrity rules, adapted for a multi-exchange environment, in April.

Chi-X is owned by Japanese investment group Nomura, and already operates exchanges in Canada, Japan and a joint venture with the Singapore Exchange in Asia.

Despite enjoying a monopoly for more than 20 years, the ASX says it welcomes the new competitive environment that is being created by the corporate regulator.

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