Ex-BlocSec CEO to lead Chi-East dark pool

Chi-East, the joint dark pool initiative between trading platform operator Chi-X Global and the Singapore Exchange, has appointed Ned Phillips as its new chief executive officer.
By None

Chi-East, the joint dark pool initiative between trading platform operator Chi-X Global and the Singapore Exchange, has appointed Ned Phillips as its new chief executive officer.

Phillips was most recently head of BlocSec, an Asian crossing network owned by agency broker CLSA. He resigned from the position late last year and was replaced in November by Christian Chan, who joined CLSA from agency broker Instinet in September.

Before joining BlocSec, Phillips held a variety of electronic equity trading roles in Asia, including head of sales for agency broker ITG in Asia, where he established the company’s Singapore office, and managing director for Asia and Japan at online broker E*TRADE, where he was responsible for the firm’s regional institutional equities business.

“We are very pleased to welcome Ned onboard to lead Chi-East. His wealth of experience will be invaluable as we establish the leading trading platform for pan-Asian securities for our customers,” said Gan Seow Ann, chairman of Chi-East, in a statement.

Chi-East was formed in August last year and will be the first exchange-backed Asian dark pool. It will start by offering stocks listed in Australia, Hong Kong, Japan and Singapore. The dark pool will also act as an independent liquidity aggregator for the sell-side.

The trading platform for the new venture will be supplied by Chi-Tech, Chi-X Global’s technology subsidiary. The venture has appointed UK-based central counterparty LCH.Clearnet Limited as its clearing house.

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