Chi-X Japan, the proprietary trading system (PTS) operated by Chi-X Global, has continued its steady growth with another record trading month in May.
The PTS averaged a record ¥21 billion (US$260 million) in daily turnover and 33 million shares traded daily in May, giving the venue a 1.97% market share of the Nikkei 225, according to its own figures. Total turnover in May reached ¥392 billion (US$4.9 billion), up from ¥363 billion (US$4.54 billion) in April.
Chi-X Japan's strong showing in May helped it to cement its place as Japan's third-largest trading venue behind the Tokyo Stock Exchange (TSE) and Osaka Stock Exchange. It is also the largest PTS ahead of SBI Japannext, which had a 1.43% share of Japanese stocks in May, according to Thomson Reuters Equity Market Share Reporter.
In May, the TSE commanded a 92.34% share in trading of Japanese stocks, down from 94.9% at the start of 2011, according to Thomson Reuters.
“Over the past few months, Chi-X Japan has experienced steady growth and we are encouraged by trading participants' increasing interest in our trading platform as they look for new trading opportunities in Japan,” said Yasuo Hamakake, the newly appointed representative director and COO of Chi-X Japan.
Hamakake took over from Joseph Meyer, who was appointed as chief administrative officer at Hong Kong Exchanges and Clearing at the start of May.