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.
ASX Restrictions [07/06]
We would like to inform you about the current restrictions on the Australia market. Please note that there is a firm-level restriction of 30 orders per symbol + side on the ASX. This means that new orders which would exceed this limit will be rejected back. Orders submitted to cover an existing position are exempt from this restriction.
Please also be aware that we are currently restricting ASX symbols in which an overnight position was held pending the covering of that position by Trade Desk. This is similar to what is already in place for Hong Kong.
We ask that you take these restrictions into account when trading on Australia and inform your traders of same.
New Clearing Firm [07/06]
We are pleased to announce that we have started the process of moving to a new clearing firm for our ASX equities trading. This change will result in a number of improvements for you and your traders including:
- Lower fees
- Improved short locate availability
- Faster rollout of ASX market access to additional offices
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.