Private investment firm J.C. Flowers has agreed to acquire the trading venues Chi-X Japan and Chi-X Australia, and technology platform Chi-Tech Hong Kong from Chi-X Global.
J.C. Flowers focuses its investments on the financial services sector around the world, and has been an active investor in the Asia-Pacific region for almost 20 years.
Tal Cohen, CEO of Chi-X Global, said: “We are pleased to announce that J.C. Flowers has agreed to acquire Chi-X Australia, Chi-X Japan and Chi-Tech. Over the past five years, Chi-X has established itself as an integral part of the financial markets in Asia Pacific through our commitment to competition and innovation.”
“J.C. Flowers has a deep appreciation for these markets and shares our vision of leveraging technology to develop innovative market-level solutions that enhance investor performance.”
Thierry Porte, managing director at J.C. Flowers, added: “The Chi-X businesses have established themselves as successful and innovative alternatives to primary exchanges.”
He added: “Their superior technology, service and trade execution performance will continue to drive positive change and improve markets where they operate. We hope to accelerate this growth through continued enhancements to the platform, including new investment products and markets, and by leveraging our strong relationships throughout the Asia Pacific region.”
The acquisition is expected to close in Q1 2016, subject to regulatory approval. Financial terms have not been disclosed.
