EuropeâÂÂs largest stock exchanges will be under increasing pressure to slash trading costs on their main markets over the next six months once new trading systems start competing for liquidity.
Chi-X, the system from Nomura-owned agency broker Instinet, has claimed as much as 10% of UK equities trading in less than a year, while UK exchange Plus Markets is handling about 5% of daily trading in FTSE 100-listed companies.
