Stock market operator Chi-X is exploring a sale that could value the Nomura-controlled unit at $400 million, according to Bloomberg.
Citing anonymous sources, the newswire says Nomura and it co-investors, - who include JPMorgan, Bank of America, UBS and Goldman Sachs - are working with Moelis & Co to sell the operator of trading venues in Australia, Canada and Japan.
Chi-X handles about 18% of Canadian stock trading, almost 10% of Australian volume and 1.3% of trading of Japan’s Nikkei 225 Stock Average.
The sale process was prompted after Chi-X's owners received an unsolicited offer for the business, says Bloomberg, with Nasdaq OMX and Singapore Exchange said to be in the frame.
Chi-X's European operations were acquired by Bats Global Markets in 2011.