Exchange operator, BATS Global Markets, is in exclusive discussions to acquire pan-European trading platform, Chi-X Europe, The Wall Street Journal reports. The two companies have agreed to extend exclusive negotiations, which were initially scheduled to end February 11.

Chi-X, which is worth $300 million, is 34% owned by Nomura unit, Instinet, and partly owned by investment banks, including Citigroup, UBS, Credit Suisse, Merrill Lynch and Morgan Stanley. BATS operates two U.S. stock exchanges, the BZX Exchange and the BYX Exchange, as well as equity options market, BATS Options and BATS Europe, adds Index Universe.

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