Traders can now access Chi-X through any GL Trade workstation. GL Trade will offer access to Chi-X both as a direct enterprise solution and a full ASP service. ASP market access for Chi-X will be provided through GL Net, the international market data and order routing network owned and operated by GL Trade.
Through Chi-X’s streamlined model, institutional investors are able to trade pan-European equities and achieve ultra-low execution, clearing and settlement costs. Both internal and external benchmark tests have shown the Chi-X operating model to be more than 10 times faster and significantly less expensive than Europe’s traditional equity exchanges.
Chi-X expands the choice of trading venues, thus fostering the competition encouraged by the MiFID. Using GL Trade solutions for market data aggregation and smart order routing, our clients will benefit from the new playing field created by markets like Chi-X, which lead to more liquidity, more arbitrage opportunities and lower execution costs, said Philippe Carre, global head of client connectivity at GL Trade.
