Chi-X Europe, a pan-European multilateral trading facility (MTF), has extended its pricing promotion for its Chi-Delta dark book indefinitely.
The promotion, which was initially put in place in November until the end of 2009, halved the fee for passive order types – i.e. non fill-or-kill and immediate-or-cancel orders – to 0.15 basis points from 0.3 bps. Aggressive orders sent to Chi-Delta will continue to be charged at 0.3 bps.
The tariff was set to run until 31 March but will now remain for the foreseeable future. Chi-Delta launched at the end of May 2009.
By comparison, rival MTF BATS Europe charges 0.15 bps per order, whether passive or aggressive, on its dark pool, while NEURO Dark, Nasdaq OMX Europe’s non-displayed order book, charges 0.2 bps.
In February, Chi-Delta traded €4.06 billion, making it the largest non-displayed MTF, according to figures from data vendor Thomson Reuters. It has traded €3.83 billion so far in March.