Chi-X Australia CEO Peter Fowler is relinquishing his post after shepherding the alternative venue through a successful first year of trading.
Fowler, who will stay in his position until first quarter next year, came out of retirement almost five years ago to help Chi-X Global launch an Australian venue and initially served as chief operating officer from 2008.
Fowler will continue to serve on Chi-X Australia’s board of directors. The firm said it had not yet identified a replacement CEO.
The news came as the venue broke yet another market share record this week, garnering 12.4% market share from incumbent bourse, the Australian Securities Exchange (ASX). According to Chi-X, the record market share included 93.9 million shares traded on-market with a value of A$423.1 million.
“We’re delighted by the consistent growth during our first year in operation,” said Elizabeth Haines, head of global marketing, Chi-X Global. “It demonstrates the level of support that we have received from market participants in Australia. This week we were pleased to welcome our 27th participant to our market – Australian Investment Exchange."
On 31 October, Chi-X Australia celebrated its first anniversary as the first venue to compete against the Australian Securities Exchange and on 12 October recorded a then-day peak in market share of 8.99%.