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virt-x Completes Phased Launch Of Pan-European Blue Chip Market

Date 09/07/2001

virt-x plc announced today that from 8.00am this morning the virt-x pan-European blue chip equity market will, as planned, offer trading in the constituents of all the European blue chip indices bringing the total number of stocks traded on virt-x to 613 - these stocks represent approximately 80% of European market capitalisation. This completes the phased launch of the virt-x market that commenced on 25 June 2001.

The indices covered are:

  • AEX,
  • CAC 40
  • DAX 30
  • DJ EuroStoxx 50
  • DJ Stoxx 50
  • DJ Stoxx 600
  • FTSE 100
  • FTSE Eurotop 300
  • IBEX 35
  • MIB 30
  • MSCI Euro
  • MSCI Pan Euro
  • S&P Europe 350
  • SMI
Key statistics of the second week of trading (2-6 July) are:
  • Total turnover (value of business transacted): £7.2 bn
  • Total volume (number of shares): 170 m
  • Total number of trades: 120,000
Commenting on the final phase of the launch Antoinette Hunziker-Ebneter, CEO of virt-x plc, said: "European blue chips are the most liquid shares in Europe. Allowing market participants to trade the constituents of all of the major pan-European blue chips on one exchange is not only more efficient, it will also deliver real cost savings to the industry. Over 99% of trades have settled on value date.

"The first two weeks of trading on the virt-x market have not only demonstrated that the integrated market model has worked perfectly, it has also confirmed that there is real demand for a pan-European blue chip equity market. This week we have consistently been trading the equivalent of 10% of the underlying equities that make up the Dow Jones STOXX 50 index. We believe that virt-x is very well positioned to capitalise on its first mover advantage and play a major role in the development of pan-European trading."