JPMorgan picks up stake in US trading platform Chi-X Global
JP Morgan Chase & Co has picked up an equity stake in Chi-X Global Holdings LLC, an alternative trading systems platform. The acquisition deal makes JP Morgan the eighth financial company to own a stake in the said firm, according to MarketWatch.
Founded in 2008 by Instinet, Chi-X is a subsidiary of Nomura Holdings Inc. The trading systems operator's other owners include big investment banking institutions like Goldman Sachs Group Inc, Morgan Stanley, and Bank of America Corp, the report detailed.
The financial terms of the acquisition deal were not disclosed, the report added.
In 2011, BATS Global Markets bought the company's holding in pan-European stock exchange Chi-X Europe, MarketWatch reported.
Chi-X is a global operator of alternative equity trading markets that rival primary exchanges. The platform operates Chi-X Canada, Chi-X Japan, Chi-X Australia, and the Chi-Tech technology unit. The company is a consortium-backed entity. GETCO and Quantlab Financial are also owners of Chi-X, according to its web profile.