Peter Randall, CEO of Chi-X Europe added, âSince launching sixteen months ago, we have been pleased to see a steady growth in the number of orders and number of trades executed on Chi-X Europe. We are delighted that Merrill Lynchâs smart order router has chosen to execute so many shares on Chi-X Europe and believe this a great testimonial to our claim that we are faster, cheaper and smarter than executing on the underlying exchanges.â
Commenting on the record day, Yvonne Hansmann MD and Head EMEA Execution Sales at Merrill Lynch, said, "As the EMEA markets fragment, we have invested heavily in our proprietary smart order routing technology to ensure we continue to deliver best execution for our clients. We are one of the few brokers in Europe to offer comprehensive smart order routing which we estimate is saving clients in excess of 3 basis points of market impact. As new platforms come on line we are integrating them into our smart order routing platform to ensure we remain the broker of choice for best execution."