The Chicago Stock Exchange (CHX) today announced that in August 2007 the Exchange enjoyed its highest monthly trading volumes since the February 2007 launch of the new CHX trading model. CHX’s average daily volume for August was almost 40 million shares, with a daily high of 54.5 million shares.
Dave Herron, CHX CEO, said, “At CHX, our focus is on providing solutions that meet and exceed the needs of today’s equity trading firms. As a direct result of our new trading model and its ability to attract a diverse mix of retail, institutional and algorithmic order senders, we have seen a strong surge in demand for CHX’s efficient, low-cost trade execution. While we are pleased with this record month, we strongly believe that this is just the beginning for CHX.”
CHX’s fully automated trading system supports the regulatory demands of Reg NMS as well as the requirements of high-velocity algorithmic trading. It allows participants, regardless of location, to submit orders for immediate display, execution and cancellation. CHX offers a wide variety of order types, including "Reserve Orders," "Undisplayed Orders," and "Midpoint Crosses."
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