Instinet Europe, Ltd., an indirect subsidiary of Nomura Holdings, Inc. and a global agency broker, has reached an agreement with a consortium of shareholders that will take a minority holding in Chi-X Europe Limited, operator of the first live, order-driven, pan-European equity Multilateral Trading Facility (MTF).
Under the terms of the agreement, Instinet Europe, Ltd. retains the majority stake in Chi-X Europe Limited.
The consortium comprises the following firms: BNP Paribas,Citadel, Citi, Credit Suisse, Fortis, Getco Europe Ltd, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley, Optiver, Socit Gnrale and UBS.
“We are grateful for the commitment of our new partners to the continued growth of Chi-X Europe. That these firms are willing to take an equity stake in Chi-X Europe is a testament to our common vision of a more efficient European equity market resulting from cheaper, faster and smarter trading,” says Tony Mackay, president and managing director, Instinet Europe Ltd.
Chi-X, an FSA-authorised securities firm, currently offers trading in stocks in the leading Dutch, German, UK, French and Swiss equity indices and aims to expand the universe of eligible stocks in 2008.