Bloomberg News

Chi-X Europe, Russell Introduce New European Equity Indexes

October 02, 2011

Oct. 3 (Bloomberg) -- Chi-X Europe Ltd., the region’s alternative trading platform, and Russell Investments introduced European equity indexes that will compete with benchmark gauges compiled by Stoxx Ltd. and MSCI Inc.

The four new measures use Russell’s methodology and Chi-X’s prices, the two companies said in a statement today. Two of the indexes focus on companies in the euro region, and two also include stocks in other parts of Europe.

Chi-X Europe, a London-based company which started in March 2007 and is owned by banks and brokers, signed a deal with Russell to create the new gauges in March as a step toward expanding into derivatives. Seattle-based Russell operates indexes that account for $3.9 trillion in assets.

Chi-X Europe has agreed to be acquired by Bats Global Markets, the operator of the second-largest alternative trading system in Europe. The merger was referred to the U.K. Competition Commission in June and the regulator is due to issue a report by Dec. 2.

Chi-X Europe was the first alternative trading platform in Europe to contend with traditional exchanges such as London Stock Exchange Group Plc and Deutsche Boerse AG by offering lower fees and faster trading.

Bloomberg LP, the parent of Bloomberg News, competes with Chi-X Europe and Russell in providing financial indexes.

--Editors: Andrew Rummer, Srinivasan Sivabalan

To contact the reporter on this story: Julie Cruz in Frankfurt at

To contact the editors responsible for this story: Andrew Rummer at

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