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| Tuesday, 4 October 2011, 08:00 HKT/SGT | |
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Source: Chi-East | |
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SINGAPORE, Oct 4, 2011 - (ACN Newswire) - Chi-East, the independent, pan-Asian trading venue, today announced its trading figures for the third quarter of 2011, a period of significant growth for the platform.
From July to September, the value of trades matched on Chi-East reached US$71.06 million, an increase of 203% over the second quarter of 2011. Chi-East also saw US$4.96 billion routed through its platform in the third quarter, and has provided investors with an average price improvement* of 11.86 bps since its launch in November 2010.
Chi-East Trading Statistics
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2Q 2011 3Q 2011
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Value Traded (USD) 23.45 million 71.06 million
Quarter-on-Quarter Increase 139% 203%
Value Routed (USD) 3.41 billion 4.96 billion
Average Price Improvement* 12.67 bps 11.76 bps
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* Price improvement is defined as the difference between the best bid or offer on the security's primary exchange and the Chi-East execution price
"Since our launch, we have seen continued demand from participants looking to benefit from the liquidity and price improvement opportunities provided by our platform," said Ned Phillips, CEO of Chi-East. "The last few months have been a significant growth period for Chi-East, as we continued to attract more liquidity and match more trades."
In addition, Chi-East has also added several key broker-dealers to its trading platform, including ITG, J.P. Morgan and The Royal Bank of Scotland.
Phillips added: "We are encouraged to see more brokers electing to use the platform to access aggregated regional trading flows. We look forward to adding more sell-side participants as we further ramp-up activity."
Contact:
Henry Chow
College Hill for Chi-East
Tel: +852 3791 2289
E-mail: henry.chow@collegehill.com
Matthew Schultz
College Hill for Chi-East
Tel: +852 3791 2032
E-mail: matthew.schultz@collegehill.com
Topic: Press release summary
Source: Chi-East
Sectors: Daily Finance, Daily News, Exchanges
http://www.acnnewswire.com
From the Asia Corporate News Network
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