 | |
| Type | Multilateral trading facility |
|---|---|
| Location | London, United Kingdom |
| Founded | 2007 |
| Owner | BATS Global Markets |
| Key people | Chairman and CEO: Mark Hemsley |
| Currency | Euro |
BATS Chi-X Europe is a London-based, order-driven pan-European equity exchange that has been a subsidiary of BATS Global Markets since 2011. It is a low latency, low cost alternative to exchange traded equities and exchange-traded funds (ETFs) that are listed on primary exchanges such as the London Stock Exchange, Frankfurt Stock Exchange, Euronext and OMX.
Previously a multilateral trading facility (MTF), BATS Chi-X Europe received Recognised Investment Exchange (RIE) status from the Financial Conduct Authority (FCA) in May 2013, and was from then authorised to operate a Regulated Market for primary listings alongside its existing business.[1]
Initially two separate entities, Chi-X Europe was the first pan-European equities exchange to launch in 2007; BATS Europe was launched in 2008.[2] In February 2011, BATS Global Markets agreed to buy Chi-X Europe for $300 million.[3] The deal was referred by the Office of Fair Trading to the Competition Commission in June 2011 for further investigation to "determine whether a substantial lessening of competition is probable as a result of the anticipated merger." However, the Competition Commission approved the transaction in late November 2011, leading to BATS closing the deal on 30 November 2011.[4]
- ^ Hadfield, Will (9 May 2013). "Bats Chi-X Europe Gets Recognized Exchange Status in U.K." Bloomberg L.P. Retrieved 30 August 2013.
- ^ "US trading system BATS to open European platform". Reuters. 31 March 2008. Retrieved 22 May 2012.
- ^ "Bats Agrees to Buy Chi-X Europe as Competition Grows". Archived from the original on 20 February 2011. Retrieved 17 April 2011.
- ^ "BATS Tries to Reboot Its IPO". Institutional Investor. 9 May 2012. Retrieved 22 May 2012.