Pan-European stock exchange Chi-X Europe has commenced trading of International Depositary Receipts (IDRs).
Chi-X said that this new market segment will cover 50 stocks from some 12 countries, including Eastern and Southern European states such as Russia and Cyprus, as well as stocks from Asian countries such as India and South Korea.
The new market segment forms Chi-X Europe’s 16th market segment. IDR securities will be cleared by Chi-X Europe’s CCP European Multilateral Clearing Facility (EMCF) and netted for settlement at Euroclear Bank.
Chi-X Europe CEO Alasdair Haynes said that as always the company has responded to users’ needs and has expanded the range of securities it offers for trading, at lower costs and faster speeds than has been possible until now.