Chi-X Japan to Launch a New Dark Pool
Kai-X will be Japan's first trading venue to use the reference prices of the Tokyo Stock Exchange.
Chi-X Japan officials say the new trading venue will allow investors to execute trades anonymously and at prices equal to the Tokyo Stock Exchange (TSE) reference prices of best bid or best offer and the derived mid-point between the TSE best bid and best offer prices.
Since the venue will use TSE's reference prices, Kai-X will not publish any pre-trade information, such as bids, offered prices, quantities and indications of interest (IOIs).
According to a Chi-X statement, since it is not a
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