UK grants BATS Chi-X Europe exchange licence

The UK Financial Conduct Authority has given BATS Chi-X Europe a Recognised Investment Exchange licence. "With FCA approval of our RIE application, we will be even better positioned to support the vision of a borderless European capital market and to compete in other areas, such as primary listings," BATS Chi-X Europe CEO Mark Hemsley said. "Our RIE status also enables a broader range of retail investors and buy-side firms to connect to our market and enjoy the benefit of competition that [the Markets in Financial Instruments Directive] allowed, including trading-venue choice, lower fees and and improved service and technology."

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