SEB Becomes Trading Participant on Chi-X
SEB has been approved as trading participant on Chi-X Europe (Chi-X), a pan-European alternative trading system (ATS) or multi-lateral trading facility (MTF) under the EU Markets in Financial Instruments Directive (MiFID). Launched this year, Chi-X offers market participants an alternative to trading on traditional stock exchanges. By connecting to Chi-X, SEB will offer its clients access to the platform’s growing list of pan-European equities. SEB says that its connection to Chi-X will complement the bank’s current offering of 38 equity and derivatives exchanges in Europe and the US. SEB is currently in the process of deploying the third generation of its electronic equities trading platform, SEB Trading Station, which it claims offers improved performance and functionality and will be extended to include algorithmic trading and smart order-routing. SEB will offer client access to Chi-X from mid-November 2007.