Chi-X Global
Encyclopedia
Chi-X Global is a global, consortium-backed operator of alternative equity trading venues that compete with primary exchanges. Chi-X Global operates Chi-X Australia, Chi-X Canada, Chi-X Japan, Chi-East (a 50/50, pan-Asian dark pool venture with SGX) and the Chi-Tech technology unit.
Originally launched by Nomura Holdings
subsidiary Instinet
, Chi-X Global on October 18, 2011 announced that five major institutions -- Bank of America
, GETCO
, Goldman Sachs
, Morgan Stanley
and Quantlab Financial -- had taken a minority stake in the firm.
Chi-X Global is operated independently from Chi-X Europe, which Instinet launched in 2007 before bringing on a similar consortium of major financial firms as owners. In February 2011, BATS Global Markets has announced plans to acquire Chi-X Europe, with the transaction currently being reviewed by the United Kingdom's Competition Committee.
The name Chi-X is derived from the Greek letter Chi
, written X, claimed to symbolise the crossing of the two sides of a trade. Along with the “X” from the Latin alphabet, the name supposedly signifies a combination of the old world and modern world, or traditional securities trading techniques married with cutting-edge technology.
Originally launched by Nomura Holdings
Nomura Holdings
Nomura Holdings, Inc. is a Japanese financial holding company, and a principal member of the Nomura Group.In October 2008 the company acquired Lehman Brothers Holdings's investment banking and equities unit in Asia and Europe and kept on most of its employees. Nomura paid $225 million for the...
subsidiary Instinet
Instinet
Instinet is an institutional, agency-only broker. As such, it executes trades for roughly 1,500 “buyside” clients such as asset management firms, hedge funds, insurance companies, mutual funds and pension funds...
, Chi-X Global on October 18, 2011 announced that five major institutions -- Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
, GETCO
Global Electronic Trading Company
The Global Electronic Trading Company , or Getco LLC, is a proprietary algorithmic trading and electronic market making firm based in Chicago, Illinois.-Description:...
, Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
, Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
and Quantlab Financial -- had taken a minority stake in the firm.
Chi-X Global is operated independently from Chi-X Europe, which Instinet launched in 2007 before bringing on a similar consortium of major financial firms as owners. In February 2011, BATS Global Markets has announced plans to acquire Chi-X Europe, with the transaction currently being reviewed by the United Kingdom's Competition Committee.
The name Chi-X is derived from the Greek letter Chi
Chi (letter)
Chi is the 22nd letter of the Greek alphabet, pronounced as in English.-Greek:-Ancient Greek:Its value in Ancient Greek was an aspirated velar stop .-Koine Greek:...
, written X, claimed to symbolise the crossing of the two sides of a trade. Along with the “X” from the Latin alphabet, the name supposedly signifies a combination of the old world and modern world, or traditional securities trading techniques married with cutting-edge technology.