Chi-X Global Inc. is still set to work towards launching in March, in spite the growing threat of a tougher competitive environment with the bid takeover of the Singaporean bourse of rival ASX Ltd.

Chi-X Global Australia's COO Mr. Peter Fowler said in an email to the International Business Times-Sydney: "We continuing to work towards a March launch. We are keen to study the ASIC consultation paper, which is due to be released shortly."

Mr. Fowler, however, refused to comment on the proposal bid of SGX to ASX Ltd.

He emphasized that Chi-X, which plans to offer a unique and cost-efficient trading platform to Australians and foreign investors, "the government has previously stated its in-principle support" with the issuance of their preliminary approval.

Chi-X Global, an affiliate of Nomura Holdings, is preparing a unique trading platform that could provide the fast and efficient platform beneficial to Australian and foreign investors keen on participating in the market action worldwide.

Chi-X won the preliminary approval to compete against Australian stock exchange operator ASX Ltd.

Chi-X Global Inc. is a global provider of market infrastructure technologies and trading venues that aims to provide investors around the world with the most efficient markets possible through its high-speed, low-cost, intelligent trading model.

Chi-X Global believes that truly competitive, technology-driven markets benefit all participants in the trading process - investors, brokers and the primary exchanges - by making the market more attractive to the global trading community, which ultimately helps to increase overall market volumes and improve investor performance.

Chi-X Global is a subsidiary of electronic trading pioneer Instinet Incorporated, a wholly-owned subsidiary of Nomura Holdings, Inc.

Chi-X Global operates Chi-X Canada, Chi-X Japan and the Chi-Tech technology product and services unit. Chi-X Europe is owned by a consortium of financial institutions and is operated independently. Chi- X Global's parent company, Instinet, is Chi-X Europe's largest and founding shareholder.