Vega-Chi Limited, a London-based electronic trading platform dedicated to European convertible and high-yield bonds, has received a £1.6m investment from Octopus Ventures.
The company intends to use the investment to expand its products and regional footprint in electronic trading for fixed income products.
Founded by its current CEO, Constantinos Antoniades, Vega-Chi enables institutional investors to trade convertible and high-yield bonds directly with each other without having to go through intermediaries.
It provides an alternative pool of liquidity where participants can achieve best price execution, transaction cost savings, improved liquidity and anonymity. Furthermore, the Vega-Chi trading system offers full pre-trade and post-trade transparency and access to full historical data, allowing investment managers to make better informed decisions.
The platform is fully compliant with the Markets in Financial Instruments Directive (MiFID) and the proposals described in the MiFID review.
Vega-Chi, which is regulated and authorised by the Financial Services Authority (FSA) as a multilateral trading facility, has 65 participant firms and has received orders in excess of $20 billion since its launch in February 2010.
The company’s staff and board of directors include a number of industry experts and veterans.