Chi-X Global Holdings, LLC
|Chi-X Global Inc.|
|Key People||Chairman Tony MacKay, CEO John Lowrey|
Chi-X Global is the parent company of several regional Chi-X electronic trading platforms around the world, including Chi-X Canada and Chi-X Japan as well as the proposed Chi-X Australia plus trading-technology provider Chi-X Global Technologies. Chi-X Global was launched in 2008 by parent company Instinet as a competitor to traditional trading venues like the NYSE and will launch the Chi-East with the Singapore Exchange later in 2010. Chi-X Europe, by contrast, operates as a separate entity and is not part of the Chi-X Global group.
Global agency brokerage group Instinet plus a minority-stake consortium of 13 investment banks started Chi-X Global in early February 2008 following the success of Chi-X Europe in the year since its launch in March 2007.Chi-X Global has since added Chi-X Canada and Chi-X Japan and plans to add Chi-X Australia to the group as well as a joint venture with the Singapore Exchange. The group provides multi-lateral trading platforms (MTFs) trading at higher speed and lower cost compared to traditional stock exchanges like NYSE Euronext and Deutsche Boerse.
Chi-X Global also announced in early June 2010 that it had teamed up with Brazilian exchange BM&FBOVESPA to create Chi-FX Brazil to serve the foreign exchange market in Brazil. The joint venture requires Chi-X Global to develop and support the trading platform and BM&FBOVESPA to market the service and provide support to its customers. Chi-X Global Technology is the technology services unit of Chi-X Global and provides trading infrastructure and services to financial markets.
Chi-X Global announced July 6, 2010 that its Japanese subsidiary Chi-X Japan Ltd. would begin trading Japanese securities on its trading platform beginning July 29, 2010 after approval from Japan's Financial Services Agency (FSA). Chi-X Japan now holds a proprietary trading system (PTS) licence from the FSA and will clear all its trades with the Japan Securities Clearing Corporation. Trading on Chi-X Japan will at first be confined to a few selected securities but will eventually widen to include all Nikkei 225 Index stocks.
- Instinet's Chi-X Global to challenge exchanges. Reuters.
- Chi-X Global and BM&FBOVESPA Team to Streamline International Trading into Brazil. BusinessWire.
- Chi-X Japan Receives Launch Approval. BusinessWire.