Chi-X Europe Extends Trading Services To Belgian Stocks

Chi-X® Europe Limited, operator of the first live, pan-European equity multilateral trading facility (MTF), today announced that it is successfully trading, clearing and settling five of the top component stocks of the Belgium BEL 20 index, and plans to introduce the remainder of the index’s components later in the month. The first stocks available for trading on Chi-X Europe are:

Dehaize ORD
Inbev ORD
KBC Groep ORD
Solvay ORD
Umicore ORD

“Since launching some fifteen months ago, we have introduced trading services for many of Europe’s most heavily-traded equities and are pleased to extend coverage to these Belgian names,” commented Peter Randall, CEO of Chi-X Europe Limited. “Chi-X Europe participants continue to enjoy price improvement and lower trading costs, and we remain committed to providing the European trading community with the benefits of our faster, cheaper and smarter model.”

Trades in these stocks will be cleared through Fortis’ European Multilateral Clearing Facility (EMCF) and will be settled in the Euroclear Central Securities Depositories, and will be fully fungible with trades in these stocks transacted on the primary market.

With the addition of trading services for the BEL 20 component stocks to Chi-X Europe , overall trading, clearing and settlement is anticipated to be less expensive than via the current market infrastructure. According to an analysis by Instinet Europe Limited, Chi-X Europe’s majority shareholder, execution costs for trades transacted on the underlying exchange is 1.09 bps compared to Chi-X Europe’s trading costs of 0.05 bps^*.

^* Based on a passive/aggressive rebate ratio of 50:50.