|
| Monday, 24 January 2011, 12:30 HKT/SGT | |
| |  | |
Source: Chi-East | |
|
|
|
SINGAPORE, Jan 24, 2011 - (ACN Newswire) - Chi-East, the independent, pan-Asian trading venue, announced today that it has completed the roll out of its non-displayed trading platform for securities listed in Hong Kong, Japan and Singapore. All of Chi-East's initial participants Instinet, Deutsche Bank, Morgan Stanley, Nomura and UBS have successfully matched trades on the platform.
"We are pleased that, two months after launch, Chi-East is now matching trades for a wide universe of securities listed in Hong Kong, Japan and Singapore," said Ned Phillips, CEO of Chi-East. "We have also witnessed the pioneering use of independent Central Counterparty Clearing (CCP) for Japanese securities, which is provided by LCH.Clearnet. The use of independent CCP, outside of national clearinghouses, is a breakthrough for the market."
Chi-East is committed to bringing choice to the trading environment. It has now expanded to support 3,264 securities listed in Hong Kong, Japan and Singapore. Market participants are now able to trade all SGX-listed shares, all Hong Kong Main Board listed shares, the component stocks of the TOPIX 1000 and all listed ETFs in the three markets.
He continued: "Our presence helps clients reduce their market impact costs and, we believe, provides them with a competitive advantage. We are very encouraged by the support we have received from the pan-Asian trading community during our initial launch period and the positive feedback from our clients. There is a strong demand in Asia for ways to reduce trading cost and we would like to play a role in reducing these costs."
Chi-East is an independent pan-Asian non-displayed trading platform for securities listed in Hong Kong, Japan and Singapore. It is committed to providing full post-trade price and volume transparency, which will be made available through public data providers such as Bloomberg, Thomson Reuters, Sungard and Fidessa. A date will be set for the release of post-trade data shortly.
Chi-East is a joint venture between Chi-X(R) Global Inc. and the Singapore Exchange and is regulated as a Recognised Market Operator (RMO) by the Monetary Authority of Singapore.
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
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
