New York-based Portware announced last week that it is adding the Chi-X Europe alternative trading system, which has been open for about a year, to the more than 300 destinations on its execution management system. "The European marketplace is changing rapidly," said Stuart Adams, head of European operations at Portware. "In order to achieve maximum trading efficiencies and ensure best execution, firms must be able to access all liquidity sources from a single, flexible trading platform."
Hirander Misra, COO of Chi-X Europe, which is owned and operated by New York-based agency brokerage Instinet through its Chi-X Global subsidiary, welcomed the partnership with Portware and noted that the fast-growing venue has a "streamlined" model that lets investors access a "wide range of European equities and achieve low-cost, high-speed trade execution, as well as potential price improvement." Chi-X said earlier this month that it had executed 6.5 billion shares in the first quarter, up 256 percent from the previous quarter's 1.8 billion.
|
