Chi-X Global Holdings (Chi-X) has announced that JP Morgan has acquired a stake in the firm.
JP Morgan becomes the eighth financial institution to buy a stake in the company. Along with majority owner Instinet, the other stakeholders are Bank Of America Merrill Lynch, KCG Holdings, Goldman Sachs, UBS, Quantlab Group and Morgan Stanley.
Chi-X Global operates markets in Canada, Australia and Japan.
In Australia, Chi-X Australia, a subsidiary of Chi-X Global, has recently entered its third year of operations. During its lifetime, it has been gradually accumulating market share in Australia. In the final quarter of 2013 it would capture on average approximately 15% of daily market turnover.
In Japan, Chi-X accounts for approximately 3% of market turnover and in Canada just less than 20%.