Chi-X® Europe Limited, the largest pan-European equities exchange, today published its trading statistics for the first quarter of 2010. While many of the European stock exchanges experienced challenging trading conditions, Chi-X Europe continues to progress towards its objective of becoming both the largest pan-European equities exchange and the largest overall by value traded. According to the Federation of European Stock Exchanges (FESE), Chi-X Europe was ranked third largest equity exchange by value traded in February 2010.
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Chi-X®
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Q1 Overview (vs. Previous Quarter) |
Q1 2010 vs. Q1 2009 |
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Number of Trades |
59.1 million (+28%) |
+123% (up from 26.5 million) |
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Share Volume |
44.2 billion (+26%) |
+103% (up from 21.8 billion) |
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Turnover |
€367.5 billion (+32%) |
+147% (up from €148.9 billion) |
In the first quarter of 2010, trading participants saved in excess of € 40 million in price improvements on Chi-X Europe representing an average basis point price improvement of 1.49bps.
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Chi-X®
Europe Consolidated Market Share |
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Q1 Overview (vs. Previous Quarter) |
Q1 2010 vs. Q1 2009 |
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FTSE 100 |
26.0% (+8%) |
+70% (up from 15.3%) |
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CAC 40 |
21.7% (+24%) |
+75% (up from 12.4%) |
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AEX 25 |
21.6% (+23%) |
+53% (up from 14.1%) |
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BEL 20 |
20.4% (+33%) |
+267% (up from 5.5%) |
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DAX 30 |
20.3% (+14%) |
+81% (up from 11.2%) |
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SMI 20 |
14.0% (+29%) |
+249% (up from 4.0%) |
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OMX S 30 |
12.3% (+16%) |
+163% (up from 4.7%) |
Commenting on the trading statistics, Alasdair Haynes, CEO of Chi-X Europe, said, “We are immensely grateful to our trading participants for their ongoing support as we continue to win market share across the leading indices and broaden our customer base. Our continued growth demonstrates the sustainability of our low cost business model. Chi-X Europe is a successful, profitable and well-capitalized business and we look forward to playing a pivotal role as the industry evolves from national to pan-European models like ours.”
Haynes continued, “We believe these results are testimony to market demand for a low cost, efficient, pan-European exchange and demonstrate that we are witnessing a sea change in the way in which equities are traded in Europe. Our goal is to continue to identify ways in which to help our trading participants reduce the frictional cost of trading, to help them reach new pools of liquidity and to improve the overall quality of the market.”
Chi-Delta® trading statistics
Since its launch in May 2009, Chi-Delta has shown consistent monthly growth. Chi-Delta now regularly ranks as the largest publicly declared non-displayed order book in Europe, representing 29.7% of all reported European dark liquidity by value traded in Q1 2010, according to Thomson Reuters’ Equity Market Share Reporter (EMSR).
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Chi-Delta®
Trading Statistics – Q1 2010 |
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Q1
Overview (vs. Previous Quarter) |
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Number of Trades |
1.5
million (+87%) |
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Share Volume |
1.9
billion (+35%) |
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Turnover |
€ 11.3
billion (+74%) |
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Alasdair Haynes added, “Non-displayed liquidity represented around 3% of all trading activity transacted on Chi-X Europe in the last quarter, participants trading on Chi-Delta achieved average basis point savings of 5.35bps on each side of the trade.
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Trading
Highlights – Q1 2010 |
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Index |
Consolidated
Market Share |
Date |
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FTSE 100 – British |
29.13% |
08 Feb
2010 |
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BEL 20 - Belgian |
25.74% |
22 Feb
2010 |
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AEX 25 – Dutch |
25.13% |
24 Mar
2010 |
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CAC 40 – French |
24.50% |
24 Mar
2010 |
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DAX 30 – German |
23.67% |
03 Feb
2010 |
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SBF120 – French |
23.28% |
24 Mar
2010 |
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FTSE 250 – British |
22.16% |
01 Feb
2010 |
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CAC Next 20 - French |
18.37% |
24 Mar
2010 |
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SMI 20 – Swiss |
18.25% |
12 Mar
2010 |
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MDAX - German |
16.97% |
24 Mar
2010 |
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OMX H 25 – Finnish |
15.90% |
29 Mar
2010 |
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OMX S 30 – Swedish |
15.30% |
25 Feb
2010 |
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AMX 25 – Dutch |
13.84% |
09 Feb
2010 |
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MIB 40 – Italian |
12.27% |
05 Mar
2010 |
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OMX S 30 Next – Swedish |
12.00% |
26 Mar
2010 |
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ATX 20 – Austrian |
11.31% |
15 Mar
2010 |
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OMX C 20 – Danish |
10.63% |
10 Mar
2010 |
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SMI MID - Swiss |
7.96% |
12 Mar
2010 |
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OMX H Mid Cap - Finnish |
6.17% |
29 Mar
2010 |
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PSI 20 - |
4.61% |
30 Mar
2010 |
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OBX 25 – Norwegian |
4.49% |
29 Mar
2010 |
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IBEX 35 – Spanish |
1.43% |
02 Mar
2010 |
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Note: Consolidated Market Share is Chi-X Europe on order book consideration as a percentage of combined market of listing, Chi-X Europe, NASDAQ OMX Europe, Turquoise, BATS Europe, NYSE Arca Europe and Burgundy on order book consideration.
