Chi-X Global Holdings, the US-based holding company for alternative equity trading venue operator Chi-X Global, secured an undisclosed amount of funding on Tuesday from five major financial firms.
The investors, which have acquired a minority stake in Chi-X Global Holdings, are financial services firms BofA Merrill Lynch, Goldman Sachs and Morgan Stanley, financial trading firm the Quantlab Group, and market maker GETCO.
Chi-X Global was originally created in February 2008 by alternative trading broker Instinet, itself owned by Japan’s Nomura, as a separate entity from Chi-X Europe, which Instinet had launched the year before.
Chi-X Global, which operates markets in Canada and Japan, and jointly operates Chi-East with Singapore Exchange, is set to launch Chi-X Australia on October 31.
Bina Kalola, head of strategic direct investments for global equities at BofA Merrill Lynch, said: "Since inception, Chi-X has established its reputation as a market innovator globally. We look forward to our new relationship with Chi-X Global and its management team and to bringing greater efficiencies to markets across the globe."