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August 15th, 2008 - Chi-X® Europe Limited announces that it is successfully trading, clearing and settling five of the top component stocks of the Austrian ATX 20 index,
Chi-X Europe Extends Trading Services to Austrian Stocks
Chi-X® Europe Limited has announced that it is successfully trading, clearing and settling five of the top component stocks of the Austrian ATX 20 index, and plans to introduce the remainder of the indexs components later in the month. The first stocks available for trading on Chi-X Europe are:
* Erste Bank der Oesterreichischen Sparkas
* Voestalpine AG
* Raiffeisen International Bank Holding AG
* OMV AG
*
Telekom Austria AG
Since launching some seventeen months ago we have introduced trading services for many of Europes most heavily-traded equities and are pleased to extend coverage to these Austrian 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 Oesterreichische Kontrollbank AG (Austrian Central Securities Depository), and will be fully fungible with trades in these stocks transacted on the primary market.
With the addition of trading services for the ATX 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 Europes majority shareholder, execution costs for trades transacted on the underlying exchange are 4.24 bps compared to Chi-X Europes trading costs of 0.05 bps*.
* Based on a passive/aggressive rebate ratio of 50:50.
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