Chi-X® Europe Limited, operator of the largest pan-European equity multilateral trading facility (MTF), today published its overall and Chi-Delta™ trading statistics for the third quarter of 2009.
Chi-X Europe offers trading in component stocks of 20 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, Mark Howarth, CEO of Chi-X Europe, said, “Chi-X Europe continues to provide significant savings to investors. We have been pleased to see the European equity markets hold their own with July and August remaining steady, despite the usual seasonal downturn. September has been a very good month, as we recorded our third busiest month since launch.”
Chi-X® Europe Overall Trading Statistics – Q3 2009 |
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| Q3 Overview (vs. Previous Quarter) | September Overview (vs. August) | |
| Number of Trades | 40,631,489 (+10%) | 14,155,694 (+12%) |
| Share Volume | 30,207,668,751 (+2%) | 10,464,162,181 (+12%) |
| Turnover | €233,862,287,802 (+12%) | €86,099,067,326 (+18%) |
| Price Improvement * | ||
| Month | Percentage of Trades Executed At or Better than the Primary Market Spread | Average Price Improvement (basis points) |
| Sep-09 | 92% | 2.01 |
| Aug-09 | 92% | 2.26 |
| Jul-09 | 92% | 2.44 |
| Jun-09 | 92% | 2.40 |
| May-09 | 92% | 2.38 |
| Apr-09 | 92% | 2.42 |
| Mar-09 | 92% | 2.64 |
| Feb-09 | 92% | 2.83 |
| Jan-09 | 91% | 2.88 |
| Dec-08 | 90% | 3.59 |
| Nov-08 | 89% | 3.53 |
| Oct-08 | 88% | 3.56 |
Note: Basis points price improvement is calculated by comparing the execution price against the primary market 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.
Trading Highlights – Q3 2009 |
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| Index | Consolidated Market Share | Date | |
| FTSE 100 – British | 22.65% | 14-Jul-09 | |
| FTSE 250 – British | 21.96% | 12-Aug-09 | |
| AEX 25 – Dutch | 21.75% | 14-Jul-09 | |
| CAC 40 – French | 21.29% | 14-Jul-09 | |
| SBF120 – French | 20.63% | 14-Jul-09 | |
| DAX 30 – German | 18.88% | 14-Jul-09 | |
| OMX S 30 – Swedish | 18.07% | 05-Aug-09 | |
| CAC Next 20 - French | 17.83% | 13-Jul-09 | |
| BEL 20 - Belgian | 17.37% | 14-Jul-09 | |
| SMI 20 – Swiss | 14.75% | 11-Sep-09 | |
| OMX H 25 – Finnish | 14.18% | 11-Aug-09 | |
| OMX C 20 – Danish | 13.81% | 14-Jul-09 | |
| MDAX - German | 11.27% | 13-Jul-09 | |
| AMX 25 – Dutch | 10.13% | 25-Aug-09 | |
| ETFs | 10.10% | 29-Jul-09 | |
| MIB 40 – Italian | 9.26% | 02-Jul-09 | |
| OBX 25 – Norwegian | 6.86% | 13-Jul-09 | |
| OMX S 30 Next – Swedish | 6.54% | 10-Aug-09 | |
| ATX 20 – Austrian | 4.40% | 28-Sep-09 | |
| PSI 20 - Portugal | 1.95% | 25-Sep-09 | |
| IBEX 35 – Spanish | 0.67 | 14-Aug-09 | |
Note: Consolidated Market Share is Chi-X Europe’s on order book consideration as a percentage of combined Primary Exchange, Chi-X Europe, NASDAQ OMX Europe, Turquoise, BATS and NYSE Arca Europe on order book consideration.
Chi-Deltatrading statistics
Chi-Delta was launched on 25 May 2009. For the first time, Chi-X Europe has provided non-displayed order book data in its quarterly trading statistics.
Commenting on the data, Hirander Misra, COO of Chi-X Europe, said, “We have been very pleased with the market reaction to the launch of Chi-Delta. According to ThomsonReuters’ independent data, Chi-Delta is now the second largest non-displayed pool in Europe. The opportunities for price improvement on both our displayed and non-displayed books are clearly proving to be compelling and we look forward to continuing to help trading participants reduce their market impact and realise the basis point price improvement savings on offer.”
Chi-Delta™ Trading Statistics – Q3 2009 |
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| Q3 Overview | September Overview (vs. August) | |
| Number of Trades | 246,694 | 163,077 (+196%) |
| Share Volume | 713,967,023 | 249,829,046 (+193%) |
| Turnover | €2,366,230,081 | € 1,594,399,466 (211%) |
