The initial participants of Chi-East- Instinet, Deutsche Bank, Morgan Stanley, Nomura and UBS – have matched trades on the platform.
Chi-East said that the roll out has enabled the Chi-East to support 3,264 securities listed in Hong Kong, Japan and Singapore.
Market participants will be able to trade all SGX-listed shares, all Hong Kong Main Board listed shares, the component stocks of the TOPIX 1000 and all listed ETFs in the three markets.
Chi-East CEO Ned Phillips said that we have also witnessed the pioneering use of independent Central Counterparty Clearing (CCP) for Japanese securities, which is provided by LCH.Clearnet. The use of independent CCP, outside of national clearinghouses, is a breakthrough for the market.
Chi-East is a joint venture between Chi-X Global Inc and the Singapore Exchange and is regulated as a Recognized Market Operator (RMO) by the Monetary Authority of Singapore.
