Chi-X Europe Extends Trading to Spanish Stocks

Chi-X Europe Limited, operator of a pan-European equity multilateral trading facility (MTF), is trading, clearing and settling the following six component stocks of the Spanish IBEX 35 Index: Banco Bilbao Vizcaya Argentaria SA, Banco Santander SA, Iberdrola SA, Repsol YPF SA, Telefonica SA and Union Fenosa SA. Chi-X Europe will complete the rollout of IBEX 35 index constituents on January 22, 2009.

“Since launching nearly two years ago we have introduced trading services for many of Europe’s most heavily-traded equities and are pleased to extend coverage to these Spanish names,” said Peter Randall, CEO of Chi-X Europe Limited, in a press release. Chi-X Europe participants continue to enjoy price improvement and lower trading costs, and we remain committed to providing the European trading community with the benefits of our faster, cheaper and smarter model,” he added.

Trades in these stocks will be cleared through Fortis’ European Multilateral Clearing Facility (EMCF) and will be settled using BNP Paribas Securities Services Madrid Branch as a settlement agent. They will be fully fungible with trades in these stocks transacted on the primary market. The overall costs of trading, clearing and settling IBEX35 stocks on Chi-X Europe are anticipated to be lower than via the incumbent market infrastructure.