Australian Exchange Responds to Chi-X Approval

On May 4, the Australian government approved Chi-X Australia's license to operate a trading platform, and now the Australian Securities Exchange (ASX) is pointing to plans to launch a Trade Acceptance Service (TAS) to provide clearing and settlement.

The ASX announced plans for the service on March 3, after completing development of the service in October 2010. The ASX released pricing and service term options for TAS on May 3. TAS can let trades executed on Chi-X Australia be cleared and

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