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  • Director of Business Development at APX Jeremy Tobias commented With the new Listing Rules now in place our immediate focus will be to start working with potential listees who could benefit from the listing platform APX plans to offer These will potentially include exchange traded funds and Australian companies with a Chinese focus With Australia s increasing focus and reliance on Asia APX s cross cultural positioning is set to provide the Australian market with a unique alternative listing and trading platform once launched In the medium term the exchange may also aid in actually cementing Australia s ambition to be the financial centre of the Asia Pacific region APX is currently awaiting the necessary approvals for its revised business rules and is working on implementation of its new trading system following which it will be ready to go live This is expected during 1HCY12 Jeremy Tobias added We believe that the APX stock exchange will provide greater access to Chinese investors for those Australian companies who choose to list on APX Our Listing Rules through the requirement for new listees to appoint sponsors to assist them in the listing process ensures that APX listed companies will have the required

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=170 (2015-10-07)
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  • Exchange Targets Asian Firms Investors Sydney may move a step closer to becoming an international financial hub next month with the launch of a new bourse aimed specifically at attracting Asian companies and capital into Australia The Asia Pacific Exchange is scheduled to go live next month subject to final Australian regulator approval By the end of the year as many as 10 companies are expected to list on the exchange which will eventually permit yuan denominated trading said George Wang chief executive of APX s parent company AIMS Financial Group 2012 6 06 SBS Chinese APX focuses on China sees opportunity amid sluggish global economics APX was recently featured on SBS as an alternative listing venue George Wang Deputy Chairman of APX provided his comments on China and the opportunities ahead for bridging the gap between Asian and Australian capital markets 2012 5 21 Asia Pacific Exchange targets China float demand The Australia 21 5 12 George Wang says a lot more due diligence will be done on Chinese companies before listing Australia s newest bourse the Asia Pacific Exchange APX is expected to go live late next month providing an alternative platform for Australian and Asian companies seeking to go public The privately owned exchange based in Sydney is expected to list its first companies towards the end of the year 2012 2 07 Australian Financial Review APX to focus on Asia Pacific AIMS Financial Group founder George Wang hopes to attract Australian and Chinese companies to his new securities exchange in an attempt to create a platform for companies and investors of both countries Asia Pacific Exchange APX has been at least three years in the making for Mr Wang after AIMS bought the company in October 2008 and provided funding The exchange set to be relaunched

    Original URL path: http://www.apx.com.au/NEWS/ViewArticleList.aspx?CategoryID=39&ArticleTypeID=7 (2015-10-07)
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  • activity must not slow down as a result of recent short term economic challenges said Wang Jianjun deputy head of the overseas investment division of the commission according to Chinese media The real task is to prepare for the iron ore demand in the next five to 10 years Mr Wang said some magnetite projects were likely to cost astronomical sums Many projects are low quality or magnetite the development cost per tonne of ore could be as high as 300 he said Sino Iron is a magnetite project while China has also backed the Karara magnetite project being developed by Gindalbie Metals near Geraldton Mr Wang said China would still need to import more than half of its iron ore by 2020 and development of Chinese owned mines was crucial in breaking the supply stranglehold enjoyed by three big miners BHP Billiton Rio Tinto and Vale He said the government would offer more support to companies investing in iron ore assets abroad BHP Rio and Vale control more than 70 per cent of the seaborne iron ore market Chinese authorities forecast the country will still need more than 1 2 billion tonnes of iron ore per year by 2020 Beijing has poured more than 10 billion into iron ore investments in the last five years mainly in WA Canada and West Africa but has seen limited production so far The lack of infrastructure has been blamed as a key reason The need to build basic infrastructure such as water electricity rail and ports are key factors constraining the production capacity of iron ore mines said Mr Wang He said Chinese companies were not adequately resourced to meet overseas infrastructure costs Big ticket projects in the new iron ore province of West Africa are also facing significant infrastructure cost problems

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=392 (2015-10-07)
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  • States and Britain as well as China s factory output rising to an eight month high helped lift mining heavyweights BHP and Rio Tinto Rio Tinto added 1 9 per cent to 61 30 while BHP edged up 0 6 per cent to 34 95 Any of these partial indicators that indicate the Chinese economy has found a floor in terms of the growth slowdown we ve seen of late is well received by the market Mr Farnham said But a later release of data from China showed that exports rose in November at a much weaker rate and imports were flat compared with the previous year Chinese exports rose just 2 9 per cent from a year earlier well below expectations of 9 per cent As a result the local market shed much of its gains after the announcement Ten Network shares were the biggest loser for the day down 9 1 per cent to 24 5 after the broadcaster resumed trading following its deeply discounted 230 million capital raising The drop was expected after it sold shares to institutions at 20 each Southern Cross Austereo also struggled falling 5 9 per cent to 1 04 after it pulled all advertising from its 2Day FM unit due to the growing controversy surrounding two of its hosts and their prank call to a London hospital Elsewhere in the media Fairfax Media dropped 1 1 per cent to 45 5 Seven West Media lost 0 3 per cent to 1 58 while News Corp bucked the trend adding 0 7 per cent to 24 42 Fortescue Metals jumped 6 9 per cent to 4 05 as the miner continued its efforts to reduce debt by preparing to sell down its stake in a joint venture with BC Iron The Pilbara junior

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=393 (2015-10-07)
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  • of a handful of blue chip companies including the ANZ and BHP Billiton shot up and then dropped back inexplicably in the opening auction on the ASX Advertisement ASIC has responsibility for looking into bizarre price movements and is yet to publish results of its inquiry Before August 2010 it would have been the ASX s responsibility One of the things we re discovering is what issues should be managed by us and what issues should be managed by ASIC or what issues actually fall in both our camps where someone should take the lead Mr Funke Kupper told a Senate committee last week But the current way of organising ourselves around this is less efficient than it used to be because together we have more people overseeing market surveillance than we used to have on our own Mr Funke Kupper said he did not think anything had fallen between the cracks since ASIC has assumed its increased supervisory workload ASIC is now responsible for licensing and market integrity rules while the ASX monitors and enforces compliance with its listings and operating rules An ASIC spokesman said on Sunday that the assessment of the strange price movements in the ASX

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=394 (2015-10-07)
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  • X meeting its statutory obligations and that Chi X has agreed to fix any problems Advertisement Since Chi X Australia began operating in October last year it has been at the centre of the debate about market fragmentation and the growth of high speed trading The ASX chief executive Elmer Funke Kupper has said authorities made a mistake by allowing Chi X into Australia because it has contributed to market fragmentation Carole Comerton Forde of the Australian National University s College of Business and Economics has said that since the arrival of Chi X the use of high frequency trading strategies has expanded dramatically But Chi X says investors have benefited from its arrival in Australia through lower fees and improved product offerings both a direct consequence of competition with the ASX It has been lobbying the federal government to break the ASX s clearing monopoly The ASIC report notes that up until March this year Chi X s share of total market turnover remained less than 1 per cent below 50 million But it also notes that daily turnover increased during the final four months of the financial year reaching a high of 150 million in mid May On

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=395 (2015-10-07)
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  • the ASX s monopoly clearing service to competition something to which the stock exchange has been opposed Advertisement Under the ASX s plan it will redistribute half of its revenue growth above the level of revenue generated last financial year by its trading clearing settlement businesses among its customers proportionate to each customer s revenue contribution in the form of an annual rebate Analysts said the scheme was an obvious reaction to competition but that it was difficult to know how much it would cost the ASX The broking industry overall is struggling at the moment and this seems to be a way to alleviate some of the stress on brokers and have some smoothing impact on ASX s fees Commonwealth Bank analyst Ross Curran said But we think the competition that s emerging is the bigger picture Regulated monopolies that have been opened up to competition in the past have tended to not be particularly favourable places to be if you re a shareholder It comes as the Australian Securities and Investments Commission released its first market assessment of Chi X Australia the only rival to the ASX finding a raft of agreed actions for improvement or attention The report found there were conflicts arising from Chi X s independent non executive director s role as chairman of E L C Baillieu Stockbroking as well as a problem with its hidden order threshold controls and problems with its documentation and record keeping However ASIC said that while the agreed actions were important they had not stopped Chi X meeting its statutory obligations and that Chi X had agreed to fix any problems Since Chi X Australia began operating in October last year it has been at the centre of the debate about market fragmentation and the growth of high

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=396 (2015-10-07)
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  • s global board and senior executive vice president who opened the branch Apart from corporate clients the Chinese bank also wants a slice of the lucrative market of private wealth management tapping into an influx of cashed up Asian investors and migrants settling in Australia Advertisement We are looking to partner with local wealth management firms and expect to become one of the main participants in this sector Ms Wang said George Boubouras head of investment strategy and consulting at UBS said there was a clear trend of wealthy Chinese nationals looking to invest money abroad Canada the US Hong Kong Singapore and Australia are natural recipients of migration of that level and that would continue he said The Australian government has recently introduced a special visa category significant investor to attract affluent migrants Under the scheme investors need to invest at least 5 million in government bonds managed funds or unlisted private companies to qualify for permanent residency in Australia ICBC the world s largest bank in terms of profitability market capitalisation and customer deposits opened its Sydney office in 2008 followed by a Perth branch last year The West Australian operation was part of its strategy of developing

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=386 (2015-10-07)
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