Instinet Preps Chi-X for Europe
FRONT PAGE: EXCHANGE TECHNOLOGIES
NEW YORK—Instinet is preparing to launch a continuous block crossing platform, dubbed Chi-X, in Europe either late in the fourth quarter of this year or in early 2007, officials at the agency broker tell DWT.
The new alternative trading system (ATS) is based on the firm's existing Continuous Block Cross (CBX) platform for the U.S. domestic equity market, says Alex Goor, co-president of Instinet. "Chi-X is our initiative in Europe and it will be in Asia soon as well. We're going to use the CBX
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