Source: SEB
Leading Northern European financial group, SEB, has been approved as trading participant on Chi-X Europe Limited (Chi-X), a pan-European Alternative Trading System (ATS) or Multi-lateral Trading Facility (MTF) under the EU Markets in Financial Instruments Directive (MiFID).
Launched this year, Chi-X offers market participants a competitive alternative to trading on traditional stock exchanges. By connecting to Chi-X, SEB will offer its clients access to the platform's growing list of pan-European equities.
"New trading venues are changing the landscape of equity trading in Europe", says Magnus Carlsson, Executive Vice President and Head of Merchant Banking. "SEB is the leading equity brokerage in the Nordic region and our clients are increasingly looking to the European market. By adding Chi-X to our forthcoming smart order-routing capability we are underlining our commitment to best execution for our clients."
Offering connectivity to Chi-X reinforces SEB's strategy of offering fast and efficient electronic trading solutions and complements the Bank's current offering of 38 equity and derivatives exchanges in Europe and the US.
SEB is currently in the process of deploying the third generation of its electronic equities trading platform, SEB Trading Station. The new generation of Trading Station offers further improved performance and functionality, which will be extended to include algorithmic trading and smart order-routing. SEB will offer client access to Chi-X from mid-November.