19 February 2018
visit www.nextgenbanking.co.uk/

Chi-X Europe latest to slash fees

28 August 2009  |  5353 views  |  0 Bar graph

Multilateral trading facility Chi-X Europe has outlined plans for an aggressive pricing promotion this autumn as the battle for equity market share across the continent continues to rage.

The MTF says participants that double their trading activity in September compared to the previous three month average will get a fee cut to 0.2 basis points in October - down from the current 0.3bps.

The offer only applies to Chi-X Europe's visible order types, and will be valid for trades in any of the 14 markets in which the MTF offers trading.

Chi-X Europe pays a rebate of 0.2 basis points for passive executions (posting orders) meaning customers that post 50% aggressive and 50% percent passive in October will trade for free.

Mark Howarth, CEO, Chi-X Europe, says: "We are delighted to be able to offer our trading participants the opportunity to reduce trading fees across all of Chi-X Europe's markets."

News of the Chi-X promotion comes just days after rival MTF Bats Europe outlined plans to invert its pricing schedule for UK stocks during September. Bats will charge 0.2 basis points for trading but offer a 0.4bps rebate for adding liquidity, effectively paying customers to trade.

The continent's largest MTF, Chi-X Europe is owned by Instinet - which also operates Ch-X Global - and other market participants, including BNP Paribas, Citi, Goldman Sachs and UBS.

According to Bloomberg, the platform's success has prompted Chi-X Global into bidding to buy out other shareholders. Citing five people familiar with the situation, Bloomberg says Chi-X Global proposed buying out minority owners of the unit for stock that values the business at $177.3 million. The proposal was reportedly made at a meeting in London on 14 August but some owners consider the offer too low.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chi-Tech launches 'exchange-neutral' European trading network

Chi-Tech launches 'exchange-neutral' European trading network

14 August 2009  |  5402 views  |  0 comments
SGX and Chi-X plan dark pool

SGX and Chi-X plan dark pool

12 August 2009  |  8087 views  |  0 comments
Dark pool pricing set to tumble as Bats Europe enters fray

Dark pool pricing set to tumble as Bats Europe enters fray

29 June 2009  |  5974 views  |  0 comments
Chi-X Europe dark pool launches

Chi-X Europe dark pool launches

26 May 2009  |  8744 views  |  0 comments
Turquoise volumes slump; Bats picks up FTSE 100 share

Turquoise volumes slump; Bats picks up FTSE 100 share

23 March 2009  |  9770 views  |  0 comments
Chi-X Europe names Howarth as interim chief

Chi-X Europe names Howarth as interim chief

10 March 2009  |  6962 views  |  0 comments
Turquoise joins competing platforms to develop common stock symbology

Turquoise joins competing platforms to develop common stock symbology

02 March 2009  |  6143 views  |  0 comments
Randall to step down as Chi-X chief

Randall to step down as Chi-X chief

26 February 2009  |  9746 views  |  0 comments
Chi-X acquires exchange technology specialist Cicada

Chi-X acquires exchange technology specialist Cicada

18 November 2008  |  11983 views  |  0 comments
Bats Europe launches

Bats Europe launches

31 October 2008  |  9206 views  |  0 comments
Chi-X Europe moves into profit

Chi-X Europe moves into profit

16 October 2008  |  11453 views  |  0 comments
LSE cuts fees as rivals circle

LSE cuts fees as rivals circle

01 August 2008  |  7558 views  |  0 comments
Instinet vows to undercut European exchanges with new Chi-X platform

Instinet vows to undercut European exchanges with new Chi-X platform

02 October 2006  |  12138 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.swift.com/your-needs/instant-paymentsVisit http://info.nice.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11297 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8853 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8744 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8717 views comments | 15 tweets | 43 linkedin

Featured job

Find your next job