Just stumbled across this. Looks like they are launching today. Will fill in more details as I find them.
(Also check out the OpenTrader thread. CHESS Sponsored. $5 under $2,500)
$5 flat fee on all brokerage
PayID deposit available at no charge
$55 transfer in/out fee
- Market Orders only
- Data with 20 minute delay
Superhero Live - $108/yr
- first 30 days free
- Limit Orders available
- Live Data
AFR Article announcing the launch:
The low-cost trading is possible, Mr Winters says, because they will hold members' shares in a single special-purpose Holder Identification Number, rather than having each member assigned a HIN on ASX's CHESS system.
Still trying to understand the difference this makes, particularly if they were to go under