Chi-X Australia expands offering with additional TraCRs and a new Quoted Funds market


Pioneering stock exchange, Chi-X Australia is set to expand its offering with the launch of a new quoted funds market and five additional Transferable Custody Receipts (TraCRs), including those based on the shares of tech juggernaut Amazon (AMZN: NASDAQ) and Warren Buffet’s Berkshire Hathaway (BRK.B: NYSE).

Chi-X names five new TraCRS

Speaking at the recent Stockbrokers and Financial Advisers Association (SAFAA) 2019 Conference, Chi-X Australia Chief Executive, Vic Jokovic, said Chi-X would soon quote an additional five TraCRs based on the underlying shares of leading global companies. The five new TraCRs will join the ranks of 10 other TraCRs already trading on Chi-X Australia*.

“Expanding the range of TraCRs demonstrates our commitment to delivering greater accessibility and choice to local investors and brokers”, Mr Jokovic said.

Launched in October 2018, TraCRs offer local investors simple access to some of the world’s largest companies. TraCRs are issued by Deutsche Access Investments Limited (a member of the Deutsche Bank group) and traded in Australian dollars on an Australian exchange during Australian trading hours.

A New Quoted Funds Market to come

Addressing the SAFAA conference, Mr Jokovic also signalled the launch of a new quoted funds market, stating that the initial fixed-income quoted managed funds (QMFs) – also known as active ETFs – will be issued by leading firms including ActiveX (Kapstream), eInvest (Perennial) and Schroders.

“The arrival of Chi-X Quoted Funds marks a significant expansion of our capabilities and will enable issuers to have their QMFs and ETFs quoted and traded on Chi-X Australia, providing both issuers and investors with greater choice and cost benefits,” Mr Jokovic concluded.

The launch date of the quoted funds market, and the funds involved, will be announced on receipt of final regulatory approvals.

Since the launch of the exchange in 2011, Chi-X Australia has saved brokers and investors $133.6 million and $183 million respectively.

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