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Instinet Europe, Ltd., an indirect subsidiary of Nomura Holdings, Inc., today announced that it had reached an agreement with a consortium of shareholders that will take a minority holding in Chi-X Europe Limited, operator of the first live, order-driven, pan-European equity MTF (Multilateral Trading Facility). Under the terms of the agreement, Instinet Europe, Ltd. retains the majority stake in Chi-X Europe Limited.
The consortium comprises the following firms (listed in alphabetical order):
BNP Paribas
Citadel
Citi
Credit Suisse
Fortis
Getco Europe Ltd
Goldman Sachs
Lehman Brothers
Merrill Lynch
Morgan Stanley
Optiver
Société Générale
UBS
Commenting on the equity participation, Tony Mackay, President and Managing Director of Instinet Europe, Ltd., said, “We are grateful for the commitment of our new partners to the continued growth of Chi-X Europe. That these firms are willing to take an equity stake in Chi-X Europe is a testament to our common vision of a more efficient European equity market resulting from cheaper, faster and smarter trading.”
Chi-X currently offers trading in stocks in the leading Dutch, German, UK, French and Swiss equity indices and will continue to expand the universe of eligible stocks in 2008.
