Vega-Chi May Launch Electronic MTF In May

Vega-Chi may unveil an electronic multilateral trading facility for high-yield bonds in early May.

Vega-Chi may unveil an electronic multilateral trading facility (MTF) for high-yield bonds in early May, Reuters reports. The new platform, which will allow investors to trade directly with each other at a relatively low cost, will be the first of its kind in Europe. Vega-Chi, which was founded by former Goldman Sachs banker, Constantinos Antoniades, secured a £2 million equity financing for the new high-yield MTF, with lead investor, Octopus Investments subscribing £1.6 million of new shares. Vega-Chi is expecting to have over 60 users for the new facility by the time of the launch.

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