About Chi-X® Asia Pacific

Chi-X Asia-Pacific is driven to be an industry leader in operating trading venues and generating innovative products and services for the benefit of financial markets and the global trading community. The company believes that competition from technology-driven markets increases overall market volumes and improves investor performance, providing benefits to all participants.

Chi-X Asia-Pacific operates market centers in Australia and Japan. Its Chi-TechTM technology services unit provides technology to its business.

Chi-X Asia Pacific Overview

An Alternative Market Operator, Provider of Innovative Market Solutions in the world’s #2 and #3 equity markets.

Chi-X Japan

  • A leading Proprietary Trading System (PTS) in Japan, provides members and investors with better trading opportunities at lower cost under highly transparent rules.
  • Operates four equity trading venues to provide solutions to evolving needs of market participants.

Chi-X Australia

  • The securities and derivatives exchange transforming the Australian investment market through a focus on customers and innovation.
  • Delivers easy, cost-effective access to local and global investments opportunities.

Chi-Tech (Hong Kong & Philippines)

  • Provides the trading technology platform and support services that keep the Chi-X market centers at the forefront of the industry in performance and reliability.

“Chi-X” Brand and History

Instinet (USA)

  • 1969 Instinet founded as a pioneer of electronic trading.
  • 2002 Instinet merged ECN business with INET, which was retained by NASDAQ in 2005 after acquisition and sales.
  • 2007 Instinet acquired by Nomura.

 

Chi-X Europe (Europe)

  • Chi-X Europe was established in 2007 by Instinet. Rapid expansion of its market share made “Chi-X” a premier brand name in the global execution industry.
  • After being managed as a consortium of major global financial institutions, Chi-X Europe was acquired by Bats Global Markets in 2011. Bats Chi-X Europe remained to be the second largest equities market operator in each EU country. Bats Global Markets was acquired by CBOE in February 2017.

 

Chi-X Global (Canada, Japan, Australia)

  • Chi-X Global, 100% ownership of Instinet, was established to provide alternative trading venues outside of Europe and USA.
  • Launched Chi-X Canada February 2008, Chi-X Japan July 2010, Chi-X Australia October 2011.
  • NASDAQ completed the acquisition of Chi-X Canada in February 2016.

 

Chi-X Asia Pacific Holdings (CXAPH)

  • J.C. Flowers acquired Chi-X Global (excluding Canada) 100% in February 2016 and established CXAPH.
  • Chi-X Japan – first and only broker-neutral equity PTS in Japan, operates 4 trading books.
  • Chi-X Australia – second largest regulated exchange in Australia, offers trading in equities and listings for Warrants, ETFs, “TraCRs”.
  • Chi-Tech (Hong Kong & Philippines) – technology service and development units supporting regulated market centers Japan and Australia.

 

The name Chi-X is derived from the Greek letter “χ” symbolizing the crossing of the two sides – new/old and sell/buy.

 
 

  • Chi-X Global Technology (Hong Kong) launched in 2008, Chi-X Global Technology (Philippines) launched in 2018
  • Five core teams based in both Philippines and Hong Kong
    • Development
    • Quality Assurance
    • Support
    • Service Desk
    • Infrastructure
  • Builds and supports Chi-X Global proprietary technology solutions as well as custom exchange solutions to key third parties including CFETS

  • Launched in 2010
  • One of two PTSs viewed as viable alternatives to TSE
  • Currently ~2.0% market share
  • Operates 4 trading books including both lit and dark
  • Operates a continuous market along with VWAP cross market
  • Dedicated market operations team, strong local sales and product development teams with deep understanding of domestic broker community

  • Launched in 2011
  • An established Securities and Derivatives exchange
  • Holds an Australian Market license and is regulated by ASIC
  • Registered Automated Trading Services (ATS) Authorised Under Part III of Hong Kong’s Securities and Futures Ordinance
  • Successful market entrant and challenger to a previously entrenched monopoly exchangee
  • Successfully brought the benefits of competition to Australia’s financial market infrastructure, including significantly reduced trading, quotation and market data fees
  • Regularly achieves over 20% of Australian market share and $1 billion a day in cash equities
  • Offers a full suite of services for exchange traded investment products and cash equities including;
    • Trading
    • Reporting
    • Risk Management
    • Market Data
    • Connectivity
    • Unique investment products exclusively quoted and traded on Chi-X
  • Investments products platform includes Warrants, Indices (CXA 200), TraCRs, or Transferable Custody Receipts (reverse ADRs) and ETFs/QMFs
  • Dedicated market operations team, strong product, sales, market data development teams with deep institutional and retail industry relationships
  • A diverse and established trading community with substantial retail and institutional representation
  • Received 2015 The Asian Banker Award “Best Alternative Trading System in Asia”
  • Received 2019 Global Finance Depositary Receipts Award for “Best Local Depositary Receipts (TraCRs)”


Chi-X Overview, Sep 2019