Chi-X Europe Limited, the leading pan-European equities exchange, today published its trading statistics for the first quarter of 2011.
Over €454 billion worth of shares were traded on Chi-X Europe during the quarter, helping Chi-X Europe to maintain its position as the second largest equity exchange in Europe according to the Federation of European Securities Exchanges (FESE).
Market share increased or remained steady across the major indices versus the same period in 2010, taking Chi-X Europe's share of the FTSE 100 to 27% and over 20% in the AEX 25, BEL 20, CAC 40 and DAX 30. Overall savings for participants through price improvements during the quarter amounted to more than €47 million, representing an average basis point price improvement of 1.28bps.
The quarter was a significant period for Chi-X Europe, with the announcement of its partnership with Russell Investments to launch a new series of pan-European indices. This is a precursor to Chi-X Europe's move into the futures and options sector.
Q1 2011 also saw the launch of the centrally cleared contract-for-difference (ccCFD) service by Chi-X Europe and LCH.Clearnet, allowing CFDs to be brought on-exchange, reducing counterparty risk and increasing netting efficiencies.
Commenting, Alasdair Haynes, CEO of Chi-X Europe, said: "After a tremendous year of growth and profitability in 2010, this quarter has seen Chi-X Europe maintain its momentum and make several key announcements. We have continued to provide strong competition in the cash equities space whilst also broadening our horizon to other areas including indices and contracts-for-difference, in line with Chi-X Europe's ethos for providing innovation and choice."