Chi-X Europe, which is in the process of being acquired by BATS Global Markets, now sits atop the European standings for stock trading.
The London-based alternative to the London Stock Exchange Group recorded the most turnover of any trading venue in Europe in August, according to statistics compiled by the Federation of European Securities Exchanges.
This is the first time that Chi-X Europe, founded in 2007, surpassed the London Stock Exchange, founded in 1801, as the top market for equities in Europe.
Chi-X Europe recorded turnover of 213.8 billion euros on 43.1 million trades, according to the FESE.
The LSE recorded turnover of 205.2 billion euors on 26.3 million trades.
BATS Europe, operated by BATS Global Markets, recorded 56.8 billion euros of turnover, on 15.1 million trades.
Chi-X Europe will be merged with BATS Europe, if BATS Global Markets is able to complete its announced acquisition.
The plan is undergoing regulatory review in Europe. The merger has not spawned a negative reaction from the LSE or other market participants in the United Kingdom.
The next largest competitors behind Chi-X Europe and the LSE are Deutsche Boerse and NYSE Euronext (see chart). DB and NYSE Euronext also are in the process of merging.
FESE gathers data from all regulated markets as well as new alternative venues such as Chi-X Europe and BATS Europe, which are known as multilateral trading facilities. The FESE Statistics Methodology used in its monthly report has been agreed on “by all the trading venues involved, it said.
