Why is FFG market cap less than its assets?, page-189

1. You said - "Aussie exchanges are small and have high fees"...
Small with regard to what? Number of users? Size of what is on offer?
High fees - compared to what ? So you have prospects for the new exchange and their fees?
In the past, yes there was a time factor, but this has speed up. Also, other exchanges do not have the AUSTRAC requirements.

2. Please re-read my previous comments - I have never stated that Banks will purchase for themselves, I have always stated 'on behalf of' - if an employee / investment banker purchases on behalf of the client, then the bank is completing the transaction on behalf of the client. A big difference - and also something that global banks do not currently do - hence my questioning the statements made by those on this forum.

3. Please do not compare Chi-X with the Kryptos-X. - They are completely different products, providing completely different services to different industries. Chi-X and the other exchanges that Tony set up are / were for the facility to provide a stock trading platform.