The National Stock Exchange of Australia (NSX) continues make moves to bolster liquidity on exchange, announcing major wealth management organisation Ord Minnett has commenced trading on the boards using the IRESS platform.
The IRESS platform is an equity and derivative trading software widely used to make trades on rival bourse the Australian Securities Exchange. The move effectively harmonises the trading process for Ord Minnett clients, regardless of the market.
The additional liquidity derived from Ord Minnett, which has been operating in Australia for approximately 145 years, will improve trading volumes across the NSX’s estimated 80 securities.
In an announcement in May this year NSX CEO Ann Bowering flagged that the exchange will continue to seek improved market access and choice.
NSX is looking to expand this service offering. We are talking to other emerging financial markets where there is an opportunity for us to partner with the home exchange, leveraging NSX’s technology platform, people and procedures to provide value add solutions,” Ms Bowering said.
The market value of equities traded on the NSX is valued at approximately $4.8 billion, with an average capital raising tipped at around $8 million.
Ord Minnett is a leading private wealth management group, boasting offices in each of the nation’s major cities, Hong Kong as well as regional towns, such as Coffs Harbour, Mackay and Newcastle.