Chi-X Global Holdings has announced five new investors -- BofA Merrill Lynch; Getco; Goldman Sachs; Morgan Stanley and Quantlab Group have taken a minority stake in the firm.

Agency brokerage Instinet will remain the largest equity holder in Chi-X Global Holdings, the holding company for Chi-X Canada, Chi-X Japan and Chi-X Australia to be launched on October 31. It also jointly operates Chi-X East, a non-displayed trading platform, through a joint venture with the Singapore Exchange.

“The investment that our equity partners have made today demonstrates their commitment to Chi-X Global and its businesses,” says Tal Cohen, CEO of Chi-X Global in a statement sent by Chi-X Global's Tokyo office. “With the support of our investors, Chi-X Global is well positioned to continue its growth and remain a positive force for change through market innovation and the introduction of competition.” The statement did not disclose the stake now held by Instinet or the other five investors.

Instinet began shopping for new investors for Chi-X Global in year with the goal of selling stakes in the firm. Cohen, previous CEO of Chi-X Americas, took over from CEO John Lowrey last year as part of a shakeup at the C-level designed to attract new investors.

-- This article first appeared on Securities Technology Monitor.