As per the Financial Services Minister, Chris Bowen, Chi-X is getting full support from the government to start a competitive stock exchange in Australia. But, at present, it is just an Australian market license applicant.

However, it is not the only company which is looking forward to start its own exchange. The Federal government has also given in-principal approval to the plan to start other exchanges where the Australia-listed shares will be traded.

This is a part of the government plan to start more competition in the segment. Chi-X is just one party in the whole development.

Bowen said about the whole episode that because of this step, six million direct shareholders of Australian companies as well as the indirect shareholders will be benefited.

Every Australian citizen has his/her money invested in the shares through the superannuation funds.

More competition means that all the stakeholders will be getting the best possible value for their money, Bowen said.

He further added that a new stock exchange will also help in position Australia better in the financial services map.

Chi-X is the part of Chi X-Global.