In the course of conducting business with Chi-X, customers typically share certain personal and financial information with Chi-X and its affiliates. Chi-X treats this information as confidential and recognizes the importance of protecting it.
Such information may be provided when communicating directly or transacting with Chi-X. This may be in writing, electronically, or by phone. For instance, Chi-X may be provided with information as part of the credit review process, including information regarding customer’s transactions and account positions with Chi-X. On occasion, such information may come from consumer reporting agencies and those providing services to Chi-X.
Maintaining the confidentiality of customer information is a cornerstone to Chi-X’s business. Chi-X’s systems do not require the identity of the ultimate buyer or seller to be disclosed to the counterparty or other market participants at any point in the trading process. Chi-X believes that anonymous trading can reduce the potential market impact of large transactions and transactions by certain investors whose trading activity, if known, may be more likely to influence other market activity. Chi-X’s core values of neutrality and anonymity enable customers to obtain superior execution of their trades, better pricing and reduced transaction costs.
Chi-X does not sell information about current or former customers to any third parties, and does not disclose it to third parties unless necessary to process a transaction, service an account, or as otherwise permitted by law. Chi-X may share information with one of its affiliated companies in the course of providing or offering products and services to best meet the customer’s investing needs. When Chi-X enters into a business relationship with unaffiliated companies, it signs contracts that restrict the use of customer information and prohibit the sharing or use it for any purposes other than those for which it is intended.
Chi-X maintains electronic, physical, and procedural safeguards to protect customers personal and financial information. Within Chi-X, access to such information is limited to those who need it to perform their jobs, such as servicing customer accounts, resolving inquiries, or informing the customer of new products or services. Finally, internal policies and procedures apply to all employees, restrict the use of customer information and require that it be held in strict confidence.