KANSAS CITY, Mo. & LONDON--(BUSINESS WIRE)--BATS Global Markets (BATS) today announced its intention to appoint Mark Hemsley as chief executive officer of BATS Chi-X Europe upon the close of BATS’ acquisition of Chi-X Europe, which is pending regulatory approval. Alasdair Haynes, current chief executive of Chi-X Europe, will depart after a transition period following the transaction close.
The entire BATS Chi-X Europe management team will be announced at a later date.
“Mark has been an instrumental part of our success in Europe and I believe he is an ideal leader to take us forward as we continue to grow, leveraging the momentum that Chi-X Europe and BATS Europe bring to the table. Combining the talents of the two respective teams will create a powerhouse capable of providing increased competition to the many exchanges throughout Europe,” said Joe Ratterman, president and CEO of BATS Global Markets.
“Alasdair’s leadership and vision helped Chi-X Europe become an industry leader. We wish him all the best in his future endeavors,” he said.
Mr. Hemsley joined BATS Europe in 2008 as CEO and is also a senior vice president of BATS Global Markets. He will continue to report to Mr. Ratterman.
“I believe we have a tremendous opportunity ahead of us with BATS Chi-X Europe. Utilising the best qualities of both companies, we aim to create an even more competitive organisation which will continue to lead the way in pan- European equity trading,” said Mr. Hemsley. “I thank Alasdair for his support during this transaction and I look forward to working with the Chi-X Europe team over the coming months as we bring our two organisations together.”
Mr. Haynes joined Chi-X Europe in late 2009 as CEO to lead the company through its transition from a subsidiary of Instinet Holdings to an independent company.
Mr. Haynes said, “Chi-X Europe has gone from being a start-up subsidiary, ultimately owned by an investment bank, into one of the strongest stand-alone brands in the European exchanges sphere. I am tremendously proud of what has been achieved at Chi-X Europe during my tenure as it has continued to be the largest pan-European equities exchange and is the first MTF to date to break into profitability. In addition, this year we delivered on our plan to introduce a derivatives strategy by concluding an agreement with Russell Investments to launch a family of pan-European indices.
“Chi-X Europe is now ready for the next phase of its evolution and I am ready for a new challenge. Finally, and most importantly, I would like to thank each and every one of the Chi-X Europe staff for their creativity, determination and loyalty. Chi-X Europe would be nothing without them. I wish them, and the combined BATS Chi-X Europe team, all the best in the future,” he said.
In February, BATS entered a definitive agreement to purchase Chi-X Europe, under which Chi-X Europe and BATS Europe will combine to form BATS Chi-X Europe. The transaction is expected to close in the second quarter, pending regulatory approvals.
Subject to regulatory approval, Mr. Hemsley will initially head both the BATS Europe and Chi-X Europe organisations after the deal close and will assume the CEO role for the combined BATS Chi-X Europe entity following the transfer of business, which is anticipated this summer.
Based on current statistics of the two separate entities, BATS Chi-X Europe will be the largest trading centre in Europe in terms of market share and notional value traded. Chi-X Europe accounted for €454.6 billion traded and BATS Europe €171.2 billion traded in the first quarter of 2011.
There will be no further public statements at this time.
More information about the BATS Europe/Chi-X Europe integration is available at www.batschi-xeurope.com.
BATS Global Markets (BATS) is a global financial markets technology company headquartered in the Kansas City, Mo., area with additional offices in New York and London. Founded in June 2005, BATS operates two stock exchanges in the U.S., the BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe, an FSA-authorised multilateral trading facility in Europe. The BATS technology platform is internally developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. BATS … Making Markets Better.
About Chi-X Europe
Launched in March 2007, Chi-X Europe Limited is an FSA-authorised
securities firm operating a multilateral trading facility (MTF) for the
trading of more than 1,300 of the most liquid securities across 25
indices and 15 major European markets, as well as ETFs (exchange traded
funds), ETCs (exchange traded commodities) and IDRs (international
depositary receipts) in both a visible order book and the Chi-Delta™
non-displayed order book. Chi-X Europe’s low-cost, streamlined operating
model is designed to help trading participants achieve ultra-low
execution and clearing and settlement costs.
For more information, please visit www.chi-xeurope.com.
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