Chi-X Snaps Up Cicada to Boost Platform Sales

The subsidiary, Chi-X Global Technology (Chi-Tech), will be run separately from the core Chi-X equity market platforms in Europe and Canada (and Australia, pending regulatory approval), which will now be customers of the new unit.

Although the parties have not disclosed terms of the deal, the transaction includes the transfer of Cicada's approximately 70 staff worldwide to Chi-Tech, which will be headed by Cicada founder and chief executive Greg Smith.

However, there are no plans to relocate any o

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