Dark pool to shutter due to 'commercial considerations'.
The multi-regional Asian dark pool Chi-East will cease operation from 24 May 2012, following mutual agreement from its shareholders.
Launched as a joint venture between Singapore Exchange (SGX) and Chi-X Global, Chi-East received regulatory approval in October 2010 to launch trading. It offered non-displayed block trading for stocks in Japan, Singapore and Hong Kong. The notification, a general release from the operators, has listed commercial reasons as the driver behind its closure.
"The last trading day of Chi-East will be 24th May 2012," says the notice, available on Chi-East's website. "We would like to thank you enormously for your support of Chi-East and while we all wish we could have had a different outcome we hope that Chi-East has managed to positively affect the growth of alternative trading venues in the region, and that you as clients have seen some benefits from it."
More from Sell Side Technology
Updating your subscription status
Voting now open -- WATERS RANKINGS 2013
Our 11th annual survey is now open and you get the chance to choose your best solutions and technology providers. Waters Rankings 2013 features 26 hotly contested awards - so have your say.
19 Jun 2013
27 Jun 2013
10 Jul 2013
10 Sep 2013
Complex, dated and unwieldy data infrastructure is not uncommon among even the most progressive companies in the world of finance. As financial regulations...
With the launch of a new legal entity identifier (LEI) looming, the financial services industry needs to get ready to ensure efficient and timely implementation...