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| Thursday, 11 November 2010, 12:30 HKT/SGT | |
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Source: Chi-East | |
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SINGAPORE, Nov 11, 2010 - (ACN Newswire) - Chi-East, the independent pan-Asian trading platform, announced today that it has commenced operations to support the non-displayed trading of Asian securities.
"As Asia's first independent liquidity aggregator, we look forward to offering participants and their clients deeper liquidity and the opportunity to minimize market impact," said Ned Phillips, CEO of Chi-East. "We believe we will complement the existing marketplace and support a more dynamic trading environment in Asia."
He continued: "Chi-East represents a number of 'firsts' for Asia, including the introduction of the first Central Counterparty Clearing (CCP) model for selected securities, as well as the first pan-Asian liquidity aggregator focusing on brokers and high frequency clients."
Gan Seow Ann, Chairman of Chi-East and President of Singapore Exchange (SGX), said, "With this launch, Chi-East is leading the way in introducing innovative trading platforms to the region. This reinforces our strategy of attracting new types of market participants and catering for the changing demands of our customers."
Fumiki Kondo, Chairman of Chi-X Global, said: "Chi-East's launch closely follows the successful launch of Chi-X Japan earlier this year and the continued momentum of Chi-X Canada. As Chi-X continues to execute on its business model globally, we bring even greater benefits to the global investment community through our proven technology platform and intelligent trading model."
Chi-East's state-of-the art trading platform offers participants the ability to trade anonymously on a low latency basis. It is also committed to providing full post-trade price and volume transparency through public data providers such as Bloomberg, Thomson Reuters, Sungard and Fidessa. Key sell-side brokers already committed to participating on Chi-East include Instinet, Deutsche Bank, Morgan Stanley, Nomura and UBS.
Zach Tuckwell, Head of Electronic Execution and Program Distribution in Asia at Morgan Stanley, said, "We are proud to support and participate in the launch of Chi-East. We believe it will stimulate liquidity in the region and provide additional execution opportunities for participants. We look forward to providing access to clients interested in trading on this innovative new trading venue."
Chi-East is a joint venture between Chi-X(R) Global Inc. and SGX and is regulated as a Recognised Market Operator (RMO) by the Monetary Authority of Singapore.
* CHI-X and INSTINET are registered trademarks in jurisdictions around the world.
Contact:
Henry Chow
College Hill for Chi-East
Tel: +852 3791 2289
E-mail: henry.chow@collegehill.com.hk
Matthew Schultz
College Hill for Chi-East
Tel: +852 3791 2032
E-mail: matthew.schultz@collegehill.com.hk
Topic: New Service
Source: Chi-East
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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