The Australian Stock Exchange (ASX) has launched the initial US phase of its ASX World Link trading network. The network will provide ASX brokers direct access to the US marketplace via the Bloomberg Tradebook brokerage platform.
The World Link service has been implemented to facilitate trading, settlement and holding by Australian investors of securities traded in overseas markets. Participating ASX brokers will be able to use the service to offer one-stop shopping in US securities to their clients. They will have access to trade entry, confirmation, settlement and registry services via the same infrastructure used to transact in ASX stocks.
Richard Humphry, managing director and chief executive officer of ASX, says: "With global diversification an increasingly important issue for Australian investors, ASX brokers now have a distinct advantage over their offshore competitors and can tailor their client services accordingly. Not only does the new service provide for efficient trading through Bloomberg Tradebook, but also seamless clearance and settlement services as well."