Chi-X Europe is apparently in strong demand these days, with BATS Global Markets, NYSE Euronext and Nasdaq OMX each bidding to acquire the pan-European trading platform, the Financial Times said.
The newspaper, citing two sources familiar with the matter, said that each of the exchange operators has furnished fresh offers for Chi-X Europe ahead of a Friday deadline for “second round” bids.
More than a quarter of all FTSE 100 stocks trade on Chi-X and the winning bidder would gain a dominant presence in the European cash equities trading market, dwarfing that of the London Stock Exchange or Deutsche Borse, the newspaper added.
A source also told the Financial Times that Direct Edge also made a bid for Chi-X.
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio