Highlights
- Chi-X Europe maintained its position as Europe’s 2nd largest exchange during a tough summer[i]
- Trading in International Depositary Receipts (IDRs) was launched
- Participants made over €38 million of price improvement savings by trading on Chi-X Europe
Chi-X Europe Limited, the leading pan-European equities exchange, today published its trading statistics for the third quarter of 2010. According to the Federation of European Securities Exchanges (FESE), Chi-X Europe was ranked as the second largest equity exchange by value traded[ii] in consecutive months for June, July and August 2010. Overall in the third quarter of 2010, trading participants saved in excess of €38 million in price improvements on Chi-X Europe, representing an average basis point price improvement of 1.42bps[iii]. Non-displayed liquidity represented around 3.5% of all trading activity transacted on Chi-X Europe in the quarter under review. Participants trading on Chi-Delta achieved average basis point savings of 5.24bps[iv] on each side of the trade.
In September 2010, Chi-X Europe began trading International Depositary Receipts (IDRs) covering 50 stocks from some 12 countries including Russia, India and South Korea. The exchange already offered trading in over 1,200 of the most liquid stocks from 15 European countries, plus ETFs and ETCs.
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Q3 Overview (vs. Previous Quarter) |
Q3 2010 vs. Q3 2009 |
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Number of Trades |
62.5 million (-13%) |
+54% (up from 40.6 million) |
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Share Volume |
43.5 billion (-25%) |
+44% (up from 30.2 billion) |
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Turnover |
€372.2 billion (-23%) |
+59% (up from €233.9 billion) |
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Q3 market share (vs. previous quarter) |
Q3 2010 vs. Q3 2009 |
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FTSE 100 |
26.9% (down from 27.6%) |
+36% (up from 19.7%) |
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CAC 40 |
20.1% (down from 21.1%) |
+30% (up from 15.5%) |
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AEX 25 |
22.2% (down from 23.1%) |
+31% (up from 17.0%) |
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BEL 20 |
21.8% (no change) |
+76% (up from 12.4%) |
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DAX 30 |
21.9% (up from 20.2%) |
+43% (up from 15.3%) |
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SMI 20 |
18.2% (up from 16.7%) |
+91% (up from 9.5%) |
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OMX S 30 |
17.0% (up from 15.8%) |
+26% (up from 13.5%) |
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Chi-Delta
trading statistics – Q3 2010 |
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Q3
Overview (vs. Previous Quarter) |
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Number of Trades |
1.5
million (-19%) |
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Share Volume |
1.7
billion (-27%) |
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Turnover |
€ 13.3
billion (-17%) |
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Commenting, Alasdair Haynes, CEO of Chi-X Europe, said, “As expected, the summer months were challenging for the markets overall, however, our business showed great resilience. During the quarter, we introduced IDRs and, crucially, continued to offer our trading participants choice and cost savings. The fourth quarter is set to be an exciting period for Chi-X Europe with a number of new initiatives due to be unveiled."
[i] Source: Federation of European Securities Exchanges
[ii] Including statistics for visible trading and non-displayed trading (where published)
[iii] 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.
[iv] 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.
