Chi-X Europe Limited publishes the findings of its analysis of the new NYSE Euronext trading tariffs as compared to Chi-X Europes.
The analysis, which adopted Tower Groups cost methodology exclusive of clearing costs, found Chi-X Europe tariffs to be between 18-28 times cheaper than the new NYSE Euronext trading tariffs.
Tower Groups research compared trading costs among Chi-X Europe, Deutsche Boerse, London Stock Exchange and NYSE Euronext and detailed their findings in a February 2009 report. The study found Chi-X Europe to be 15-21 times cheaper, exclusive of clearing costs, than the NYSE Euronext trading tariffs at the time of analysis.
We anticipated that the exchanges would make some fee adjustments given Chi-X Europes growing market share, and we are pleased to find that Chi-X Europe trading fees today are now even more competitive than NYSE Euronexts, says Mark Howarth, interim CEO, Chi-X Europe. Prior to these changes, we were around 15-21 times cheaper according to Tower Group. Today, we are 18-28 times cheaper.
Chi-X Europe set out to build a liquid alternative execution venue that would improve the overall efficiency of the markets, says Graham Dick, head, Business Development, Chi-X Europe. While our trading participants have been pleased with the results theyve achieved on Chi-X Europe, they remain frustrated by the tariffs levied by the incumbent exchanges,
We believe the increased fee differential between Chi-X Europe and NYSE Euronext will drive even more trading participants to Chi-X Europe to take advantage of our deep order book liquidity, low costs and potential price improvement.
L.D.