Chi-X Europe has surpassed NYSE Euronext to become the second largest European stock market (by value traded) for the first time since the multilateral trading facility was established. According to Bats Europe, trading levels for European stocks on Chi-X were valued at 5.6 billion on Tuesday, compared to 7.6 billion for the London Stock Exchange, 5.2 billion for NYSE Euronext and 3.6 billion for Deutsche Brse AG.
Chi-X, Europes leading MTF, surpassed NYSE Euronext in the value of shares traded for the first time yesterday, says Simmy Grewal. Chi-Xs impact in the UK has been obvious with detriment to the LSE, but this latest milestone shines its success towards the continent. This is a significant landmark for the only European MTF currently operationally profitable, but also a warning to the incumbent exchanges on the European continent, who need to understand the threat presented by alternative trading platforms.
D.C.