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Chi-X® Europe Limited, operator of the largest pan-European equity multilateral trading facility (MTF), today published its trading statistics for the fourth quarter of 2009.
Chi-X Europe offers trading in component stocks of 22 indices across 14 major European markets, as well as ETFs (exchange traded funds) and ETCs (exchange traded commodities), providing access to a universe of more than 1,000 instruments for its trading participants.
Commenting on the announcement, Alasdair Haynes, CEO of Chi-X Europe, said, “As I begin my new role at Chi-X Europe, I am excited to join a business which continues to deliver significant savings to its trading participants and their end investors. The last quarter of 2009 proved exceptionally busy, with October representing a record month for Chi-X Europe since launch almost three years ago. With aggregated price improvement savings of over EUR 41m across both books over the same period, the opportunities for price improvement on Chi-X Europe continue to be compelling.”
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Chi-X®
Europe Overall Trading Statistics – Q4 2009
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Q4 Overview (vs. Previous Quarter)
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Q3 Overview (vs. Q2)
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Number of Trades
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46,305,684 (+14%)
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40,631,489 (+10%)
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Share Volume
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35,138,987,469 (+16%)
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30,207,668,751 (+2%)
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Turnover
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€277,448,834,535 (+19%)
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€233,862,287,802 (+12%)
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Price Improvement *
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Month
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Percentage of Trades Executed At or
Better than the Primary Market Spread
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Average Price Improvement (basis
points)
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Dec-09
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94%
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1.82
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Nov-09
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94%
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2.02
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Oct-09
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94%
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2.07
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Sep-09
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92%
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2.01
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Aug-09
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92%
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2.26
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Jul-09
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92%
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2.44
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Jun-09
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92%
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2.40
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May-09
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92%
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2.38
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Apr-09
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92%
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2.42
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Mar-09
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92%
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2.64
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Feb-09
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92%
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2.83
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Jan-09
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91%
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2.88
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Note: Overall basis points price improvement is calculated by comparing the execution price against the market of listing best bid for each sell or best offer for each buy at the point of execution for all aggressive trades executed on Chi-X Europe, and is calculated from the perspective of the aggressive party only.
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Trading Highlights –
Q4 2009
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Index
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Consolidated Market Share
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Date
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FTSE 100 – British
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26.99%
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16 Nov 09
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CAC 40 – French
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22.64%
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31 Dec 09
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DAX 30 – German
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21.93%
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09 Dec 09
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FTSE 250 – British
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21.38%
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20 Oct 09
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SBF120 – French
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21.27%
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31 Dec 09
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AEX 25 – Dutch
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20.52%
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03 Nov 09
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BEL 20 - Belgian
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18.55%
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10 Nov 09
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SMI 20 – Swiss
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17.23%
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12 Nov 09
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OMX S 30 – Swedish
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16.93%
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05 Oct 09
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CAC Next 20 - French
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16.88%
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25 Nov 09
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AMX 25 – Dutch
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14.85%
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24 Nov 09
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OMX H 25 – Finnish
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13.56%
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13 Oct 09
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MDAX - German
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13.26%
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29 Oct 09
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OMX C 20 – Danish
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12.08%
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13 Oct 09
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MIB 40 – Italian
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10.46%
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22 Dec 09
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ETFs and ETCs
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8.92%
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23 Oct 09
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OMX S 30 Next – Swedish
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7.29%
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07 Oct 09
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SMI MID - Swiss
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6.63%
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14 Oct 09
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OBX 25 – Norwegian
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5.89%
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30 Oct 09
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ATX 20 – Austrian
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5.57%
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30 Oct 09
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PSI 20 - Portugal
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4.53%
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15 Dec 09
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OMX H Mid Cap - Finnish
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2.76%
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15 Dec 09
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IBEX 35 – Spanish
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1.06%
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30
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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.
Chi-Delta®Trading Statistics
Since its launch in May 2009, Chi-Delta has shown consistent monthly growth. In December 2009, Chi-Delta was Europe’s largest declared dark pool, representing 32% of all reported European dark liquidity by turnover – according to Thomson Reuters’ Equity Market Share Reporter (EMSR).
Alasdair Haynes added, “Non-displayed liquidity represented 3.05% of all trading activity transacted on Chi-X Europe in the last quarter. In December 2009, both parties to trades executed on Chi-Delta each received basis point savings averaging 5.99 bps. We look forward to continuing to help trading participants reduce their market impact and realise the significant savings on offer.”
Note: Basis points price improvement for Chi-Delta is calculated by comparing the execution price against the market of listing best bid for each sell or best offer for each buy at the point of execution for all non-displayed trades executed on Chi-X Europe, and is calculated from the perspective of one party to the trade.
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Chi-Delta®
Trading Statistics – Q4 2009
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Q4 Overview (vs. Previous Quarter)
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Q3 Overview
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Number of Trades
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1,023,725 (+315%)
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246,694
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Share Volume
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1,466,834,793 (+293%)
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373,048,123
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Turnover
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€ 8,476,856,961 (+258%)
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€ 2,366,230,081
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