Flowers for Chi-X trio

Chi-X Global Holdings reports that JC Flowers & Co has agreed to acquire Chi-X Australia, Chi-X Japan and Chi-Tech Hong Kong. The acquisition is expected to close in Q1 2016, pending regulatory clearances.

Tal Cohen, chief executive officer of Chi-X Global, said: “Over the past five years, Chi-X has established itself as an integral part of the financial markets in Asia Pacific through our commitment to competition and innovation. JC Flowers has a deep appreciation for these markets and shares our vision of leveraging technology to develop innovative market-level solutions that enhance investor performance. We believe that Chi-X will continue to deliver greater choice and cost-effective solutions to investors and issuers as JC Flowers & Co. builds on the Chi-X brand.”

“The Chi-X businesses have established themselves as successful and innovative alternatives to primary exchanges,” said Thierry Porte, managing director, JC Flowers. “Their superior technology, service and trade execution performance will continue to drive positive change and improve markets where they operate. We hope to accelerate this growth through continued enhancements to the platform, including new investment products and markets, and by leveraging our strong relationships throughout the Asia Pacific region.”

JC Flowers is exclusively focused on investments in the global financial services sector and has been an active investor in the Asia Pacific region for nearly two decades. Its current investments include Shinsei Bank of Japan, KT Capital Corporation, a Korean non-bank finance company, and SICOM Ltd, a provider of financial solutions and advisory services in India.

In a separate story from Australia, ASX Limited (ASX) said it has selected US-based firm Digital Asset Holdings, LLC (Digital Asset) to develop solutions for the Australian market using distributed ledger technology.

ASX has joined 12 other global financial services leaders and made a minority investment in Digital Asset; it has paid A$14.9 million to acquire a 5 percent equity interest in Digital Asset, fund an initial phase of development, and acquire a warrant that will give it the right to purchase further equity and appoint a director to the board.