The global financial services provider with assets of $2.5 trillion, takes an ownership interest in a growing execution-venue as prospects of order-flows in Canada, Japan and Australia are fueling the venue's potential.
The investor group of Chi-X Global Holdings LLC, had its ownership structure reinforced by the latest member J.P Morgan which acquired an equity stake in the market center operator.
Financial terms of the transactions were not disclosed as of publication, according to the official press release from Chi-X Global.
As per the announcement, J.P. Morgan becomes the eighth member of Chi-X Global’s ownership consortium consisting of BofA, Merrill Lynch, Goldman Sachs, KCG Holdings Inc., Morgan Stanley, Quantlab Group L.P. and UBS AG.
While Instinet Incorporated, the Nomura Group member that founded Chi-X Global in 2008, remains the majority equity holder through an affiliate. Many of these firms are heavily involved in the Execution space of both listed exchange traded securities in numerous markets, in addition to offering Foreign Exchange on the institutional and retail spectrum, directly and indirectly.
The global financial services firm lists its assets as much as $2.5 trillion, according to a description in its most recent press release, and serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
Executing Brokers Seek Flows Through Venue Acquisitions
Commenting regarding the deal in the official press release, Fumiki Kondo, Chairman of Chi-X Global, who also holds the role of Global Head of Execution Services and
CEO of Instinet - under Nomura's Group of Senior Managing Directors, said, “On behalf of the Chi-X Global Board, I would like to welcome J.P. Morgan to the investor group. The addition of J.P. Morgan is an important milestone for Chi-X and is representative of the support that we continue to receive from trading communities around the globe.”
In addition, comments from Tal Cohen, CEO of Chi-X Global, added in the press release, “J.P. Morgan joins our ownership consortium at an exciting time, as each of our markets continues to enhance its performance. We remain committed to working with the industry to foster healthy and vibrant equity markets that benefit all investors.”
Operating in market centers in Australia, Canada and Japan, Chi-Tech -the technology services unit of Chi-X Global, provides technology to its business lines and the Chi-FX platform to its alliance partner, BM&F BOVESPA.
The announcement follows a corporate press release from J.P Morgan Chase yesterday, of the appointment of Kristin Lemkau as Chief Marketing Officer, and in advance of the January 14th release of Q3 financial results for 2013 – to be reviewed during a conference call.
Chi-FX on the Rise
During its previous announcement in November about the deal struck to allow Brazilian banks to provide FX quotes allowing brokers to offer domestically priced local stocks to foreign investors in their respective local currency (converting from the BRL to the investors account denominated currency), Mr. Cohen commented in the official announcement regarding the progress with the Chi-FX platform, “This is a major milestone for our Chi-FX platform."
Mr. Cohen added in that announcement, “Brazilian market participants will be able to offer their off-shore clients an automated solution for trading Brazilian equities with embedded FX rates, thereby reducing latency, broadening access and minimizing currency risk for international investors. This is an exciting time for Chi-FX and we will be exploring new opportunities to expand the platform throughout Latin America.”
The fate of Chi-X Europe (the business line started by Nomura -and subsequently sold-off) that had also been under a consortium ownership of investors with interest in the execution space - eventually was bought by BATS global markets- could be repeated if a leading venue or competitor acquires Chi-X, although it's not clear if any such plans are in place for now.
Example of JP Morgan Regulatory Structure in Some of its Business Lines
To get an idea of the entity structure for its regulated businesses in financial products and execution services, as well as clearing, the former of these are described as offered through J.P. Morgan Securities LLC (JPMS LLC) and J.P. Morgan Securities plc (JPMS). Clearing and financing services are provided by J.P. Morgan Clearing Corp (JPMCC) and JPMS. While custody and collateral management services described as provided through JPMorgan Chase Bank N.A. (JPMCB), JPMCC and JPMS, according to information on its corporate website.
With regards to US Markets, JPMS and JPMCC are separately registered U.S. broker dealer Affiliates of JPMorgan Chase & Co. (“JPMC”) and are both members of FINRA, NYSE and SIPC, while JPMCC is a registered FCM with the NFA/CFTC. Then onto the bank subsidiaries which include JPMCB and JPMS plc. From these, JPMCB is an FDIC member and JPMS plc is authorized and regulated by the FCA.
The investor group of Chi-X Global Holdings LLC, had its ownership structure reinforced by the latest member J.P Morgan which acquired an equity stake in the market center operator.
Financial terms of the transactions were not disclosed as of publication, according to the official press release from Chi-X Global.
As per the announcement, J.P. Morgan becomes the eighth member of Chi-X Global’s ownership consortium consisting of BofA, Merrill Lynch, Goldman Sachs, KCG Holdings Inc., Morgan Stanley, Quantlab Group L.P. and UBS AG.
While Instinet Incorporated, the Nomura Group member that founded Chi-X Global in 2008, remains the majority equity holder through an affiliate. Many of these firms are heavily involved in the Execution space of both listed exchange traded securities in numerous markets, in addition to offering Foreign Exchange on the institutional and retail spectrum, directly and indirectly.
The global financial services firm lists its assets as much as $2.5 trillion, according to a description in its most recent press release, and serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
Executing Brokers Seek Flows Through Venue Acquisitions
Commenting regarding the deal in the official press release, Fumiki Kondo, Chairman of Chi-X Global, who also holds the role of Global Head of Execution Services and
CEO of Instinet - under Nomura's Group of Senior Managing Directors, said, “On behalf of the Chi-X Global Board, I would like to welcome J.P. Morgan to the investor group. The addition of J.P. Morgan is an important milestone for Chi-X and is representative of the support that we continue to receive from trading communities around the globe.”
In addition, comments from Tal Cohen, CEO of Chi-X Global, added in the press release, “J.P. Morgan joins our ownership consortium at an exciting time, as each of our markets continues to enhance its performance. We remain committed to working with the industry to foster healthy and vibrant equity markets that benefit all investors.”
Operating in market centers in Australia, Canada and Japan, Chi-Tech -the technology services unit of Chi-X Global, provides technology to its business lines and the Chi-FX platform to its alliance partner, BM&F BOVESPA.
The announcement follows a corporate press release from J.P Morgan Chase yesterday, of the appointment of Kristin Lemkau as Chief Marketing Officer, and in advance of the January 14th release of Q3 financial results for 2013 – to be reviewed during a conference call.
Chi-FX on the Rise
During its previous announcement in November about the deal struck to allow Brazilian banks to provide FX quotes allowing brokers to offer domestically priced local stocks to foreign investors in their respective local currency (converting from the BRL to the investors account denominated currency), Mr. Cohen commented in the official announcement regarding the progress with the Chi-FX platform, “This is a major milestone for our Chi-FX platform."
Mr. Cohen added in that announcement, “Brazilian market participants will be able to offer their off-shore clients an automated solution for trading Brazilian equities with embedded FX rates, thereby reducing latency, broadening access and minimizing currency risk for international investors. This is an exciting time for Chi-FX and we will be exploring new opportunities to expand the platform throughout Latin America.”
The fate of Chi-X Europe (the business line started by Nomura -and subsequently sold-off) that had also been under a consortium ownership of investors with interest in the execution space - eventually was bought by BATS global markets- could be repeated if a leading venue or competitor acquires Chi-X, although it's not clear if any such plans are in place for now.
Example of JP Morgan Regulatory Structure in Some of its Business Lines
To get an idea of the entity structure for its regulated businesses in financial products and execution services, as well as clearing, the former of these are described as offered through J.P. Morgan Securities LLC (JPMS LLC) and J.P. Morgan Securities plc (JPMS). Clearing and financing services are provided by J.P. Morgan Clearing Corp (JPMCC) and JPMS. While custody and collateral management services described as provided through JPMorgan Chase Bank N.A. (JPMCB), JPMCC and JPMS, according to information on its corporate website.
With regards to US Markets, JPMS and JPMCC are separately registered U.S. broker dealer Affiliates of JPMorgan Chase & Co. (“JPMC”) and are both members of FINRA, NYSE and SIPC, while JPMCC is a registered FCM with the NFA/CFTC. Then onto the bank subsidiaries which include JPMCB and JPMS plc. From these, JPMCB is an FDIC member and JPMS plc is authorized and regulated by the FCA.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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