BATS Chi-X Europe completes technology migration
First Published 1st May 2012
Chi-X Europe order books now live on BATS technology platform
Mark Hemsley Chief Executive, BATS Chi-X Europe
"Due to the efforts of the newly combined BATS Chi-X Europe team, we have completed multiple complex projects in a few short months."
London & Kansas City - BATS Chi-X Europe has announced the successful transition of the Chi-X Europe order books to the BATS technology platform.
Monday, 30th April, marked the first day of trading with all order books on the BATS technology platform. The technology migration also marks the conclusion of the formal business combination of BATS Europe and Chi-X Europe, now known as BATS Chi-X Europe.
"We are pleased to complete the transition on schedule so that our trading participants can quickly realise the benefits that the BATS Chi-X Europe combination provides, including cost rationalisation, flexibility, choice and continued price leadership," said Mark Hemsley, chief executive officer of BATS Chi-X Europe.
"Due to the efforts of the newly combined BATS Chi-X Europe team, we have completed multiple complex projects in a few short months, including the Chi-X Europe technology migration, the launch of four-way interoperable clearing and the completion of a new BATS Europe secondary data centre. We will now turn our attention to the future, to increasing our presence in the markets in which we already operate, such as Spain, and exploring new business opportunities," he said.
The BATS Europe and Chi-X Europe order books continue to operate
as separate pools of liquidity and will be known respectively as
the BXE lit and dark order books and the CXE lit and dark order
books. Pricing for the BXE and CXE order books and smart order
routing remains unchanged until further notice. The current
Spanish market pricing promotion, which applies to the CXE order
books, will continue until 30th June 2012.