When it launched, Chi-X Europe was the first multilateral trading facility that launched in anticipation of the European Union 's November Markets in Financial Instruments Directive MiFID , which paved the way for the introduction of alternative trading venues in Europe.
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Randall reportedly left for "personal reasons". In February , Chi-X Europe's chief operating officer Hirander Misra suddenly quit the firm to "pursue other interests". Misra had helped guide the company along with Randall, from its start until it became the second-largest market by share.
Despite the management turnover, Chi-X Europe continued to grow, steadily increasing its market share and regularly introducing new products, such as the Chi-Delta dark book it introduced in April Chi-X Europe meets the same level of regulatory standards as traditional exchanges and receives the same level of supervision as explained by the FCA: "we aim to ensure that Multilateral Trading Facilities MTFs with a similar market impact or market share as Regulated Markets i.
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