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The Australian Securities Exchange (ASX) confirms that ASX PureMatch will go-live on Monday, 28 November 2011. ASXhas now received regulatory clearance from the Australian Securities and Investments Commission allowing for its launch.
PureMatch is ASX’s new high speed/low latency order book for trading the most liquid ASX-listed stocks and domestic exchange traded funds (ETFs). It offers a new execution service alongside ASX’s existing TradeMatch order book, through which all ASX-listed securities can be traded. PureMatch will also provide an alternative to other venues that trade ASX- listed securities.
The securities available for trading on PureMatch will be introduced in two stages to enable orderliness and to give participants time to familiarise themselves with the new service.
The following 10 securities will be available for trading on PureMatch in the first stage:
| ANZ – ANZ Banking Group | RIO – Rio Tinto |
| BHP – BHP Billiton | TLS – Telstra |
| CBA – Commonwealth Bank | WES – Wesfarmers |
| NAB – National Australia Bank | WBC – Westpac |
| NCM – Newcrest Mining | WPL – Woodside Petroleum |
ASX proposes to expand the list of securities to all S&P/ASX 200 stocks plus ETFs on Monday, 12 December 2011, subject to regulatory clearance.
ASX also announces introductory pricing (excluding GST) for PureMatch that is designed to attract and reward liquidity providers. The fee structure will be effective from 28 November 2011 until 28 February 2012, and is as follows:
- 0.15 basis points (bps) for passive liquidity (resting orders) reduced to 0.05bps for Participants reaching volume qualification thresholds. For the initial three-month period these volume thresholds will be set to zero; and
- 0.15bps for aggressive liquidity (orders matching with resting orders).
Pricing will be under continuous review and ASX reserves the right to make pricing adjustments in the interim.
Elmer Funke Kupper, ASX Managing Director and CEO, said: “ASX PureMatch will meet the growing needs of the trading community for order books that offer the most liquid stocks across the fastest available platform. Connectivity to PureMatch will be straightforward for Participants, as it will be made available on the existing ASX Trade platform.
“ASX will continue to invest in technology to ensure our customers and their clients have access to one of the fastest, most sophisticated and reliable equity trading systems in the world. This will benefit all our customers, not just PureMatch users. The next milestone will be delivered in February 2012 when ASX opens its new $36 million data and co-location centre in Sydney.
“ASX’s investment in world-class infrastructure is consistent with Australia’s ambition to be an attractive financial centre. A low latency, contemporary equity trading platform further improves the competitiveness and relevance of Australia’s financial markets.”low latencmarkets.”
