Market Release: Australia Stock Exchange & CHI-X Australia
We are happy to announce that we will be opening up access to the Australia Stock Exchange. To ensure a smooth re-introduction of this market, access will be opened in stages.
As of trade date March 4, 2020, TMS Australia will be available to all offices. We encourage those offices who are interested in trading the ASX in Live to first become familiar with the market by trading on it consistently in TMS.
Last Update – ASX Access Down
As you may be aware, some days ago Head Office was forced to shut down trading on Australia. This was due to an extraordinary rule imposed by ASIC which requires that large market participants – including our executing broker – reduce the number of their executing trades by up to 25% from the levels seen on Friday, March 13, 2020.
Given the inherently uncertain nature of this rule, as well as the fact that we cannot effectively prevent more executions from occurring without running a number of significant risks, we will be keeping ASX market access down until such time as the rule is lifted or modified in some way to make it more feasible for trading.
How to Access
To trade this market in Live, interested offices must submit a mojo ticket to apply for access. The ticket must contain detailed information about your traders’ past experience trading in Live on the ASX market, including the trading plan/strategies that will be used if the request is approved.
Demonstrated practice and trading activity in TMS will likewise help applications go through successfully.
We will have access to both ASX and CHI-X Australia. Initially, only the Limit Day, IOC, and FOK order types will be available. We are working with our broker to add more orders and destinations soon.
All symbols will be listed with market extension AX and region AUNZ. The gateway fee on all destinations will be 1.2 BP, along with an execution fee of 0.10 USD (the equivalent in AUD). Day Trade The World™ will cover Australia entitlements for Live until the end of April 2020.