daytrades march 8 afternoon, page-136

Interesting article :

ASX faces new rival
Published 7:22 AM, 8 Mar 2011 Last update 12:19 PM, 8 Mar 2011

A group backed by veteran trader Brian Price, and Australia's second richest woman Angela Bennett, have launched a bid to operate an alternate trading market, according to a report by the Australian Financial Review.

The Financial and Energy Exchange Ltd has applied to the Australian Securities and Investments Commission (ASIC) for a licence to compete with ASX Ltd and establish a trading market that would specialise in energy, commodity and environmental derivatives, according to the report.

"We don?t think the demand in Asia (for resources related derivatives) has been adequately catered for,? Mr Price told the newspaper.

At 1211 AEDT shares in ASX were trading 0.35 per cent lower at $36.24 against a flat benchmark index.