Bats Chi-X Europe, the region's largest equities trading platform, has become profitable for the first time in recent months according to its chief executive, rebuffing long-held industry fears over the ability of alternative venues to become viable businesses.

Mark Hemsley, Bats Chi-X Europe's chief executive, told Financial News that the operator had "been profitable every month this year", and had contributed earnings before interest, taxes, depreciation and amortisation of $7.8 million at a group level in the second quarter of 2013. The platform is owned by US-based stock exchange operator Bats Global Markets.