Nomura Holdings’ Chi-X has received approval from Australian stock exchange operator ASX to use its clearing services, Financial Times reports. The five-year service agreement with an annual fee of $290,268 will allow Chi-X to clear and settle ASX’s trades in Australia.
The use of ASX’s trade acceptance service (TAS) will enable market participants to seamlessly clear and settle transactions from both ASX and Chi-X. ASX will decrease the annual service fees for each market operator if more operators use TAS.
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