BATS Chi-X Europe Becomes First Pan-European MTF to Obtain RIE Status

BATS Global Markets announced that the U.K. Financial Conduct Authority has approved BATS Chi-X Europe’s application for Recognised Investment Exchange status, with effect from 20th May 2013.

BATS Chi-X Europe, the largest pan-European equities market operator in terms of market share and notional value traded, was formed in 2011 from the combination of two multi-lateral trading facilities, BATS Europe and Chi-X Europe.

As a RIE, BATS Chi-X Europe will be authorised to operate a Regulated Market for primary listings alongside its existing business. With this change in status, BATS Chi-X Europe will be accessible to a greater number of investors across Europe, particularly those that are obligated to send client orders for stocks to a RIE or equivalent.

“With FCA approval of our RIE application, we will be even better positioned to support the vision of a borderless European capital market and to compete in other areas, such as primary listings,” said Mark Hemsley, CEO of BATS Chi-X Europe. “Our RIE status also enables a broader range of retail investors and Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms to connect to our market and enjoy the benefits of competition that MiFID allowed, including trading venue choice, lower fees and improved service and technology.

“As a rigorously regulated MTF, we made considerable investment in Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, market surveillance, and regulatory tools and resources. This investment will continue with our RIE status, as we further enhance our technology, products and services,” he said.

In December 2012, BATS Chi-X Europe made its application to the Financial Services Authority (FSA), which became the FCA on 1st April 2013. The application to become a Recognised Investment Exchange was filed under section 287 of the Financial Services and Markets Act 2000.