Chi-X Europe Limited, operator of the largest pan-European equity multilateral trading facility (MTF), has celebrated its second anniversary.
Chi-X Europe launched on 30 March 2007, offering trading in component stocks of the AEX 25 (Dutch) and DAX 30 (German) indices with central counterparty services provided by European Multilateral Clearing Facility N.V. (EMCF). Since then, Chi-X Europe has continued to introduce new markets and indices, whilst identifying innovative approaches to benefit its trading participants and delivering execution cost savings and frequent price improvement.
Chi-X has also seen an executive reshuffle. Tony Mackay will become Chairman of the board of directors and that John Lowrey will succeed Mackay as Chief Executive Officer.
Lowrey, currently Managing Director of Nomura International plc, will be based in London. Lowrey formerly served as Lehman Brothers Head of Electronic Trading in Europe, as Knight Securities Head of European Sales, and as co-founding partner of Weiss International Management, a global hedge fund based in the United States. Lowrey began his career at Goldman Sachs, where he eventually directed the firms equity trading operation in London.