Goldman Sachs has emerged as one of five trading firms to invest in Chi-X Global, as the equity market provider seeks to replicate the successful model of its sister firm Chi-X Europe by inviting its biggest participants as shareholders.

The US bank has taken a minority stake in the Instinet-owned operator along with Bank of America Merrill Lynch, Morgan Stanley, and the US-based trading firms Getco and Quantlab. Instinet, the agency broker owned by Nomura, will remain the largest shareholder.