Pan-European multilateral trading facility Chi-X Europe will reduce fees for adding liquidity to its Chi-Delta non-displayed trading platform from tomorrow.
Until the end of the year, passive orders – non fill-or-kill and immediate-or-cancel order types – sent to the platform will be charged at 0.15 basis points instead of 0.3 bps. The cost of aggressive orders will remain at 0.3 bps.
Fellow MTF Turquoise, which is currently in merger discussions with the London Stock Exchange, is also running a price promotion on dark trading until the end of the year, charging 0.3 bps instead of the usual 0.5 bps for all trades.
By comparison, BATS Europe charges 0.15 bps per order on its dark pool, while Neuro Dark, Nasdaq OMX Europe’s non-displayed order book, charges 0.2 bps.
In October, Chi-Delta accounted for 26.22% of the dark trading conducted by the 10 European non-displayed venues covered by data vendor Thomson Reuters.