Chi-X Extends Trading Services to FTSE 100 Stocks



    LONDON, August 6 /CNW/ - Chi-X(R) Europe Limited, a pan-European equity
alternative trading system (ATS), today announced that it is successfully
trading, clearing and settling all of the component stocks of the FTSE 100.
Chi-X already offers trading for all the Dutch AEX 25 and German DAX 30
component stocks, and will introduce trading for the other major European
markets before MiFID goes into effect on 1 November 2007.

    Chi-X's trading offering is complimented by the central clearing and
settlement services of Fortis' European Multilateral Clearing Facility (EMCF)
entity. UK Stocks will be settled in CREST and will be fully fungible for
clients whether traded on Chi-X or the primary market.

    "Having successfully introduced the AEX 25 and DAX 30 index constituents
earlier this year, we are pleased to extend coverage to these UK stocks. Our
early results point to an encouraging start in the task of attracting,
servicing and maintaining significant new sources of European liquidity,"
commented Peter Randall, Director of Chi-X Europe Limited."

    
    Chi-X Trading Statistics - July 2007

    Overview
    ----------------------- ---------------------- -----------------------
    Number of trades        241,048
    ----------------------- ---------------------- -----------------------
    Share volume            104,516,930
    ----------------------- ---------------------- -----------------------
    Turnover                EUR  4,510,768,566
    ----------------------- ---------------------- -----------------------
    Market Share Highlights
    ----------------------- ---------------------- -----------------------
                                                   Percentage of Primary
    Stock                   Date                    Exchange Volume
    ----------------------- ---------------------- -----------------------
    Royal Dutch Shell A ORD 11/7/2007              11.90%
    ----------------------- ---------------------- -----------------------
    Royal Dutch Shell A ORD 10/7/2007              10.52%
    ----------------------- ---------------------- -----------------------
    Munich Re N ORD         13/07/2007             9.75%
    ----------------------- ---------------------- -----------------------
    Bayer ORD               23/07/2007             9.64%
    ----------------------- ---------------------- -----------------------
    Siemens N ORD           24/07/2007             8.64%
    ----------------------- ---------------------- -----------------------
    Price Improvement
    ----------------------- ---------------------- -----------------------
                            Percentage of Trades   Average Price
                             Executed Inside the    Improvement (basis
    Month                    Primary Market Spread  points)
    ----------------------- ---------------------- -----------------------
    July 2007               57%                    2.17
    ----------------------- ---------------------- -----------------------
    June 2007               69%                    2.67
    ----------------------- ---------------------- -----------------------
    May 2007                54%                    1.5
    ----------------------- ---------------------- -----------------------
    

    About Chi-X(R)

    Chi-X Europe Limited, an indirect subsidiary of Instinet Incorporated, is
an FSA-authorised securities firm operating as an Alternative Trading System
(ATS) and, once MIFID goes into effect, Multi-Lateral Trading Facility (MTF)
for the trading of a wide range of European equities.

    Through Chi-X's low-cost, streamlined model, institutional investors are
able to achieve ultra-low execution, clearing and settlement costs. Both
internal and external benchmark tests showed the Chi-X operating model to be
up to 10 times faster(*) and significantly less expensive than Europe's
traditional equity exchanges. Chi-X disseminates market data to clients
directly and via third-party market data vendors at no cost, and trade
reporting is available for a low monthly fee. For more information, please
visit www.chi-x.com.

    (*) Based on Instinet Europe Limited's exchange linkages performance
measurement statistics for average DMA order messaging in June 2007. These
Instinet internal figures are for round trip latency message acknowledgement
based on sending an average number of messages to the exchange system and
obtaining a response back to Instinet's system over the course of a normal
trading day. They are provided for illustrative purposes only and are not
intended to represent an independent performance measure of latency. Market
volatility and volume may affect actual performance.

    About Instinet

    Instinet, through its subsidiaries, is a global agency broker, providing
the trading expertise and advanced technology necessary to successfully
interact with more than 50 securities markets worldwide. Acting solely as an
agent for its customers, Instinet seeks to improve institutional investment
performance and lower overall trading costs through its various front-end
trading systems, securities crossing networks, smart-routing technology,
algorithms, commission management programs and investment research products.
Instinet also operates a wide array of ATS platforms around the world,
including CBX(SM) in the United States, Chi-X(R) in Europe, JapanCrossing(SM)
in Asia. The firm, which is a wholly-owned subsidiary of Nomura Holdings,
Inc., has offices in North America, Europe and the Asia-Pacific region. For
more information, please visit www.instinet.com.

    (C)2007 Instinet, LLC. All rights reserved. INSTINET and CHI-X are
registered service marks in the United States and in other countries
throughout the world. Approved for distribution in Europe by Chi-x Europe
Limited, which is authorised and regulated by the Financial Services
Authority. Instinet, LLC, member NASD/SIPC.




For further information:

For further information: Instinet Mark Dowd, 212-310-5331 Director of
Corporate Communications mark.dowd@instinet.com or Gordian Enterprises for
Chi-X Europe Limited Julia Streets, + 44 7976 205552
jbt.streets@gordian-enterprises.com

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