Launched in 2011, Chi-X Australia is an alternative trading platform and stock exchange for Australian securities, providing efficient and cost-effective access to opportunities both home and abroad.
Chi-X is an ASIC-regulated market operator for executing trades, including ASX stocks, ETFs, and a range of other products like warrants and hybrids. Originally limited to just eight stocks when it first went live, Chi-X now offers access to trade the full suite of ASX-listed shares.
The venue accounts for around one-fifth of trading volume in Australian securities, with more than $3.8 billion in cash equities trading hands every day.
As an established market operator with a worldwide presence, Chi-X also runs trading venues across Europe, Asia and North America. It was recently acquired by the third-largest US exchange operator, Cboe Global Markets, bringing a new level of competition to the local share market.
How is Chi-X Different from the ASX?
Chi-X trading runs continuously from 10:00 am to 4:13 pm Sydney-time and does not have a pre-market ‘match’, nor are there auctions for ASX-listed equity products traded via the Chi-X as participants cannot enter orders into this venue during the pre-market stage.
What’s more, Chi-X is a day-only trading venue, so orders cannot be left in the market overnight. This may help orders reach the front of the queue sooner than they might on the ASX.
What markets can I trade using Chi-X?
Not only does Chi-X provide access to the thousands of Australian securities that you are likely to already be familiar with, but as an alternative stock exchange, it also offers trading in a number of unique products as well. Through Chi-X you may trade any of the following:
- 2,000+ ASX-listed stocks
- Chi-X specific ETFs
For a full list of the managed funds and ETFs available exclusively through Chi-X, click on this link to visit the CHI-X website.
Can I trade on Chi-X with SelfWealth?
Absolutely! The best part about the integration of Chi-X trading into the SelfWealth share trading platform is that it all happens effortlessly behind the scenes and in keeping with the CHESS framework. You do not need to apply for access to Chi-X if you already have a SelfWealth trading account.
In accordance with the Best Execution Policy of our partner and market participant OpenMarkets, we will endeavour to realise the best possible price for your trades. This means that we may automatically route part or all of your order to Chi-X for execution if a superior price is available.
All stocks bought through Chi-X settle via your SelfWealth CHESS HIN as per normal. This is because the ASX still oversees clearing and settlement, whereas Chi-X provides an alternative trading venue. As a result, you can sell shares bought via Chi-X on the ASX, and sell shares bought via the ASX through Chi-X.