Who we are

Chi-X Europe operates the largest pan-European equity multilateral trading facility (MTF). Our low cost model is designed to help Trading Participants achieve ultra low execution, clearing and settlement costs.

Launched in March 2007, seven months ahead of MiFID (Markets in Financial Instruments Directive) and eighteen months ahead of other MTFs, Chi-X Europe has been helping the international trading community improve their execution. We offer a faster, higher capacity platform with innovative order types. We offer basis point savings and lower trading and clearing costs.

We pride ourselves on offering three core areas of differentiation: our liquidity, our innovation and our service.

Liquidity

Chi-X Europe now regularly ranks within the top 5 European venues by value traded on order book, according to the Federation of European Securities Exchanges.

We offer trading in over 1,200 of the most liquid stocks across 23 indices in 15 European markets, in addition to ETFs and ETCs, all via our anonymous Central Limit Order Book.

Innovation

Chi-X Europe continues to set the pace in equity trading product innovation and we continue to upgrade our platform in line with our Participants' demands.

• Our Sponsored Access service allows clients of our Trading Participants to connect directly to Chi-X Europe in the Participant's name, thereby reducing the end clients' latency.

• With its planned CCP Interoperability offering, Chi-X Europe intends to offer a choice of central counterparty between EMCF, LCH.Clearnet Ltd and SIX x-clear.

• Participants can choose from a number of connectivity options, including leased line, Co-Location and Cross-Connectivity. We have adopted standardised FIX (Financial Information eXchange) protocol 4.2.

Chi-X Europe offers innovative order types, some of which are not available on many of the incumbent European exchanges, including hidden, mid peg and primary peg orders.

For further information please visit the 'Trading on Chi-X' section.

Service

• Proven Price Improvement: Statistics show that Chi-X Europe is regularly improving execution prices. In Q1 2009, Participants saved over €30 million through price improvements on Chi-X Europe.

• Proven lower execution costs: With execution costs of just 0.05bps (based on a passive/aggressive ratio of 50:50), trading on Chi-X Europe is measurably cheaper than trading on the incumbent exchanges.

Chi-X Europe Limited is an FSA-authorised securities firm operating a multilateral trading facility (MTF) for the trading of a wide range of European equities in both a visible order book and the Chi-Delta non-displayed order book.