Chi-X Europe Extends Trading to Spanish Stocks.LONDON -- Chi-X([R]) Europe Limited, operator of the largest pan-European equity multilateral trading facility (MTF (1) (Modulation Transfer Function) A measurement of monitor sharpness. MTF compares the contrast ratio between alternating black and green lines that are one pixel thick. ), today announced that it is successfully trading, clearing and settling the following six component stocks of the Spanish IBEX 35 Index: * Banco Bilbao Vizcaya Argentaria SA * Banco Santander SA * Iberdrola SA * Repsol YPF SA * Telefonica SA * Union Fenosa SA Chi-X Europe will complete the rollout of IBEX ibex (ī`bĕks), wild goat, genus Capra, found in rugged country on mountain ranges from central Asia to the Himalayas, S Europe, and NE Africa. 35 index constituents on Thursday 22 January 2009. "Since launching nearly two years ago we have introduced trading services for many of Europe's most heavily-traded equities and are pleased to extend coverage to these Spanish names," commented Peter Randall, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Chi-X Europe Limited. "Chi-X Europe participants continue to enjoy price improvement and lower trading costs Trading costs Costs of buying and selling marketable securities and borrowing. Trading costs include commissions, slippage, and the bid/ask spread. See: Transactions costs. , and we remain committed to providing the European trading community with the benefits of our faster, cheaper and smarter model." Trades in these stocks will be cleared through Fortis' European Multilateral Clearing Facility (EMCF EMCF Edna McConnell Clark Foundation ) and will be settled using BNP Paribas Securities Services Madrid Branch as a settlement agent. They will be fully fungible A description applied to items of which each unit is identical to every other unit, such as in the case of grain, oil, or flour. Fungible goods are those that can readily be estimated and replaced according to weight, measure, and amount. with trades in these stocks transacted on the primary market. The overall costs of trading, clearing and settling IBEX35 stocks on Chi-X Europe are anticipated to be lower than via the incumbent market infrastructure. About Chi-X([R]) Europe Chi-X Europe Limited is an FSA-authorised securities firm operating as a multilateral trading facility (MTF) for the trading of a wide range of European equities. Chi-X Europe's low-cost, streamlined operating model is designed to help participants achieve ultra-low execution, clearing and settlement costs, and benchmark tests have shown the Chi-X Europe to be significantly faster than Europe's traditional equity exchanges. Chi-X Europe disseminates real-time market data to clients directly and via third-party market data vendors at no cost, and off-exchange trade reporting Trade reporting Dealer: In a trade between two registered Market Participants (MP), only the sell side reports the trade. Auction: In a trade between two member firms, only the sell side reports the trade. is available for a low monthly fee. For more information, please visit www.chi-x.com. (c)2009 Chi-X Europe Limited. All rights reserved. CHI-X is a registered trademark in the UK and Europe. Approved for distribution in Europe by Chi-X Europe Limited, which is authorised and regulated by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. . |
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