JC Flowers to buy Chi-X’s Asia trading platforms
Monday, January 25, 2016
(AVCJ by Tim Burroughs) – J.C. Flowers has agreed to buy the Australia and Japan businesses of Chi-X Global Holdings, an alternative equity trading platform that competes with primary exchanges, as well as the company’s Hong Kong-based technology services unit.
Financial terms were not disclosed. Coming shortly after a deal was struck with NASDAQ to sell Chi-X Canada – which handles 22% of the order flow of TSX Composite Index securities in the country – Chi-X is poised to exit all of its local platforms. Chi-X Europe was sold in 2011 for $365 million.
