Chi-X Europe launches equity participation plan

Source: Chi-X Europe launches

Chi-X Europe Limited, operator of the largest pan-European equity multilateral trading facility (MTF), today announced its 2009 equity participation plan for Chi-X Europe members.

Since launching in March 2007, the firm's strategy has included offering its members the opportunity to purchase equity in Chi-X Europe Limited. As such, it has operated two previous "jump ball" schemes which have enabled those members who contributed the most trading value to the platform the opportunity for equity participation.

Members seeking to qualify for the opportunity to purchase equity in this third jump ball programme will be assessed by their overall trading participation (by value traded) from 1 June 2009 - 30 October 2009, subject to certain terms and conditions.

Commenting on the jump ball equity plan, Mark Howarth, Interim CEO of Chi-X Europe, said, "We are delighted to announce our newest equity participation plan. We recognise that Chi-X Europe's success as the largest pan-European MTF is directly attributed to the liquidity contributed by our members, and we are always pleased to reward our greatest contributors by giving them a chance to own an equity stake in the firm. In addition, as shareholders we value their contribution in shaping the direction of our business in the future."

Howarth added, "Our previous equity plans have been extremely successful and have contributed to our strong balance sheet. Even in challenging market conditions we've remained well capitalised and this equity participation plan will only further strengthen our strong financial position."


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