Chi-X(R) Europe Limited, the first live, pan-European equity
Multilateral Trading Facility (MTF), today published its trading
statistics for the first quarter of 2008.
Chi-X Europe offers trading, clearing and settlement for the
component stocks of the FTSE 100 (British), CAC 40 (French), AEX 25
(Dutch), DAX 30 (German), SMI 20 (Swiss), OMX Stockholm 30 (Swedish)
indices.
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Chi-X(R) Europe Trading Statistics - Q1 2008
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Overview (vs. Previous Quarter)
Number of Trades 6,629,090 (+176%)
Share Volume 6,581,183,080 (+256%)
Turnover EUR 74,264,870,421
(+115%)
Market Share Highlights
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Percentage of
Combined Chi-X
Stock Date Europe and
Primary Exchange
Volume Executed
on Chi-X Europe
Royal & Sun Alliance Group 12-Mar-08 34.30%
Old Mutual 13-Mar-08 32.87%
Standard Chartered 27-Mar-08 32.04%
Legal & General Group 13-Mar-08 27.97%
TUI 31-Mar-08 24.24%
Aegon 10-Jan-08 22.04%
Price Improvement *
Percentage of Trades
Executed Average Price
Month Inside the Primary Improvement
Market (basis points)
Spread
March 2008 45% 2.76
February 2008 47% 2.67
January 2008 53% 2.93
December 2007 49% 2.38
November 2007 49% 2.28
October 2007 51% 1.99
September 2007 46% 1.85
August 2007 49% 1.97
July 2007 57% 2.17
June 2007 69% 2.67
May 2007 54% 1.5
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* Price improvement is defined as the difference between the Chi-X
Europe execution price and the best quoted price on the primary
exchange at that time.
About Chi-X(R) Europe
Chi-X Europe Limited, a majority-owned, indirect subsidiary of
Instinet Incorporated, is an FSA-authorised securities firm operating
as an MTF (Multilateral Trading Facility) for the trading of a wide
range of European equities.
Chi-X Europe´s low-cost, streamlined model is designed to help
participants achieve ultra-low execution, clearing and settlement
costs. Benchmark tests showed the Chi-X Europe operating model to be
up to 10 times faster* and significantly less expensive than Europe´s
traditional equity exchanges. Chi-X Europe disseminates market data to
clients directly and via third-party market data vendors at no cost,
and off-exchange trade reporting is available for a low monthly fee.
For more information, please visit: www.chi-x.com.
* Based on Instinet Europe Limited´s exchange linkages performance
measurement statistics for average DMA order messaging in June 2007.
These Instinet internal figures are for round-trip latency message
acknowledgement based on sending an average number of messages to the
exchange system and obtaining a response back to Instinet´s system
over the course of a normal trading day. They are provided for
illustrative purposes only and are not intended to represent an
independent performance measure of latency. Market volatility and
volume may affect actual performance.
About Instinet
Instinet is a global securities firm, providing over 1,500 clients
around the world with the necessary trading tools, ATS platforms and
global agency liquidity to achieve a high quality trade execution in
more than 40 countries. Acting solely as an agent for its customers,
Instinet seeks to improve institutional investment performance and
lower overall trading costs through its various front-end trading
systems, securities crossing networks, smart-routing technology,
algorithms, commission management programs and investment research
products. Instinet, through its subsidiaries, operates a wide array of
ATS platforms around the world, including CBX(SM) in the United
States, JapanCrossing(SM) in Asia and Chi-X(R) in Europe, Canada and,
soon, Australia. The firm, which is a wholly-owned subsidiary of
Nomura Holdings, Inc., has offices in North America, Europe and the
Asia-Pacific region. For more information, please visit
www.instinet.com.
(C)2008 Chi-X Europe Limited. All rights reserved. INSTINET is a
registered trademark in the United States and in other countries
throughout the world. CHI-X is a registered trademark in the UK and
Europe. Approved for distribution in Europe by Chi-X Europe Limited,
which is authorised and regulated by the Financial Services Authority.
Approved for distribution in the United States by Instinet, LLC,
member FINRA/SIPC.
