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Chi-X® Australia Pty Ltd, a wholly owned subsidiary of alternative trading venue operator Chi-X® Global Holdings LLC, has entered its third year of operation by reaching a firm-record weekly total market share of 18.39%, which included a one-day record of 24.67% on 4 November.
Since commencing operations on 31 October 2011, Chi-X Australia has steadily grown its market share by continuing to add new participants, introducing innovative and customer friendly new services, and delivering price improvement of more than $2 million a month to Australian investors.
Commenting on the milestone, Chi-X Australia CEO John Fildes said: “With our market share having reached a critical mass, we have been able to attract additional liquidity and trading participants, many of whom are drawn to our platform’s shorter queue times, integrated marketplace, low trading fees, efficient execution and price improvement opportunities. We are extremely pleased that the platform has grown to the extent it has, which in large part reflects the commitment of Australian investors and brokers to providing their customers with the best possible trading outcomes.”
An independent assessment from the Capital Markets CRC earlier this year determined that Chi-X Australia, in its first year of operation, delivered up to $215 million worth of benefits to the Australian investment community.
“We expect Chi-X to continue to generate benefits for investors. We are also committed to working with all stakeholders to potentially extend the areas in which the significant, transformational and enduring benefits of competition and innovation can be delivered, thereby enhancing the development of Australia's financial services sector and its presence in the global markets in the process,” Fildes said.
