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Vega-Chi Limited Completes £2mm Financing Round

February 14, 2011
Vega-Chi Limited is pleased to announce the completion of a £2mm equity financing round.  Octopus Investments was the lead investor subscribing to £1.6mm of new shares.

The financing will allow Vega-Chi to expand its presence in additional products and regions.  Vega-Chi is the first multilateral trading facility dedicated to European convertible bonds and high-yield bonds.   It launched its European convertible bond trading platform in February 2010 and it will launch its highly anticipated European high-yield bond trading platform in the second quarter of 2011.  

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. Vega-Chi has 65 participant firms and has received orders in excess of $21 billion since its launch.  The company was founded by its current CEO, Constantinos Antoniades, and its staff and Board of Directors include a number of industry experts and veterans. 

Constantinos Antoniades, Vega-Chi CEO and founder, commented: “We are very excited about the investment by Octopus and working with the Octopus team.  The investment brings to Vega-Chi a strong and value-added partner and will allow us to accelerate our growth in new regions and products.”

Jo Oliver, from Octopus Investments, commented:  “Vega Chi’s platform applies a disruptive technology to a very large, inefficient market.  It is run by an exceptional entrepreneur and has the potential to dramatically change the way these securities are traded internationally. The progress made by the Company to date is impressive, and we look forward to partnering with the management team to develop a successful and valuable business.” 

The company is committed to improving the efficiency and transparency in over-the-counter traded financial products as per the recent recommendations by the Commission of European Securities Regulators. The platform is fully compliant with the Markets in Financial Instruments Directive (MiFID) and the proposals described in the MiFID review.