NSX Limited (ASX:NSX)

Tim Hart
Chairman
Market Cap (AUD): 27.7M
Sector: Financials
Last Trade (AUD): 0.098 +0 (+0%)
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1. About

NSX Limited (ASX:NSX) is the holding company of the National Stock Exchange of Australia (NSXA) which is a holder of an Australian Market Licencee. Under this licence NSXA provides a stock exchange facility for the listing of equity securities, corporate debt and investment scheme units.

Listing

The three common listing models across the exchanges are:

  1. Conventional standard market trading model chosen by the majority of companies with no investor or trading time restrictions. Any investor can invest in any company at any time during business hours in this type of trading model. The vast majority of the listed companies choose this trading model as it represents the standard and best known form of stock trading.
  2. Closed market investors are restricted to a particular group specified by the listed company. This model is popular with companies with a restricted membership type ownership base.
  3. Trading Windows trading occurs only twice a year for six weeks after semi and annual reporting. This restriction in trading times has the advantages of focusing liquidity around periods where news occurs and away from quiet periods. Trading windows is currently restricted to property-based managed investment schemes.

 

Trading

The NSXA operates its own trader workstation terminal as well as electronic feeds for those wishing to use their own terminals to trade or for information vendors. The service is called NETS and is based on one of the most technologically advanced trading platforms in the world. NSXA sources its technology from NASDAQ.

The NETS trading engine compares buying and selling orders entered io the system and automatically executes trades in strict time/price priority whenever two orders match. Orders are entered on NETS trader workstations in stockbrokers' offices or via online trading screens which may be located anywhere, and are then routed to network processors in the NSX's datacentre.

Trading hours are between 10.00am and 4.15pm Australian Eastern Standard Time ("AEST"), Monday to Friday (excluding statutory public holidays).

Settlement Settlement Facilitation Service

NSXA can accommodate securities that are either electronically settled or certificated securities. All securities registered for settlement electronically are settled on a T+2 basis via Delivery versus Payment (DvP) with the ASX CHESS platform.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk