BATS Chi-X Europe completes technology migration

01 May 2012

BATS Chi-X Europe, the largest pan-European equities market operator by market share and notional value, announced it had successfully completed the transition of the Chi-X Europe order books to the BATS technology platform.

“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.

BATS Chi-X Europe is the largest pan European equities market operator by market share and notional value  traded with approximately 25.0 per cent of the overall European equities market.

Press release


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