JP Morgan buys Chi-X stake

JP Morgan Chase has bought a stake in Chi-X Global Holdings.

JP Morgan Chase & Co. has become the eighth financial firm to take a stake in Chi-X Global Holdings, the global consortium which runs the alternative market operator to the Australian Securities Exchange.

Chi-X was founded in 2008 by Instinet, a subsidiary of Nomura Holdings Inc.

Financial terms of the transaction weren't disclosed, though Chi-X said JP Morgan joins owners Bank of America Merrill Lynch, Goldman Sachs, KCG Holdings Inc., Morgan Stanley, Quantlab Group L.P. and UBS AG.

Chi-X Global operates market centers in Australia, Canada and Japan. The firm sold its stake in pan-European stock exchange Chi-X Europe to BATS Global Markets in 2011.

Chairman of Chi-X Global Fumiki Kondo welcomed JP Morgan to the investor group

"The addition of J.P. Morgan is an important milestone for Chi-X and is representative of the support that we continue to receive from trading communities around the globe," he said.