The U.K. Competition Commission has approved the acquisition of Chi-X Europe, the largest pan-European trading venue, by Bats Global Markets, an operator of stock and options markets in the U.S. and Europe. Bats will be paying $305 million for the purchase.
Chi-X Europe will be combined with the Bats Europe multilateral trading facility (MTF) and the combined company Bats Chi-X Europe will represent approximately 25 percent of European equities trading. In the third quarter, Chi-X Europe accounted for €546.6 billion traded and 19.5 percent of the overall European market and Bats Europe €154.2 billion traded and 5.5 percent market share.
Click here for the release from Business Wire.