The new CEO of Chi-X Asia-Pacific, Joe Marchal, hopes to establish trading platforms in four new markets in the region before the end of next year.
“Client feedback tells us there is a demand for a platform like Chi-X in Asia,” Marchal told theTRADEnews.com. “We are currently in discussions with regulatory bodies in Australia, Singapore, Hong Kong and Japan, and hope to be up and running in at least some of those markets next year.”
Previously regional CEO for the Asia-Pacific region at agency broker Instinet, which has a majority stake in Chi-X, Marchal will be responsible for the firm’s Asian expansion strategy and will report to Tony Mackay, CEO of Chi-X Global.
“We think that we can do for the Asia-Pacific region what we have done in Europe, and increasingly, Canada, which is to create new liquidity and improve investment performance through the Chi-X model,” added Marchal. “Based on the team we have in place here and our experience in the other regions, I’m optimistic we’ll get this right.”
To support Chi-X’s expansion in Australia, Peter Fowler and Jason Keady have been appointed as COO and director of markets and operations at Chi-X Australia respectively.