Pan-European multilateral trading facility Chi-X Europe has extended the pricing promotion it introduced last year for adding liquidity to its Chi-Delta dark pool.
The promotion, which started on 10 November and was due to expire at the end of 2009, halved the fee for adding liquidity to the platform to 0.15 basis points from 0.3 bps. Passive order types on Chi-Delta are non fill-or-kill and immediate-or-cancel orders. The fee reduction will now run until 31 March 2010. Aggressive orders sent to Chi-Delta will continue to be charged at 0.3 bps.
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.
According to data vendor Thomson Reuters, Chi-Delta accounted for 32% of dark European liquidity in December 2009, making it the largest pan-European non-displayed trading venue.