Chi-X Canada ATS Limited, a wholly owned subsidiary of alternative trading venue operator Chi-X Global Holdings LLC, today announced plans to launch a second lit marketplace, CX2 ATS, in the first quarter of 2013.*
With CX2, Chi-X Canada will establish a unique and different market model and further provide the trading community with innovative solutions that result in greater choice and functionality.
"Canada's equity landscape will soon change dramatically. With CX2, we hope to satisfy the trading community's demand for healthy competition and help ensure that Canada remains at the forefront of innovation both domestically and globally," said Dan Kessous, CEO of Chi-X Canada.
Kessous continued: "Since our launch we have been committed to providing greater transparency and the means to reduce execution costs. CX2 aims to target under-serviced areas of the market such as institutional and retail investors. We're excited to build upon Chi-X's history of innovation with this launch."
Chi-X Canada participants will be able to leverage existing connectivity to access CX2. More information about pricing and functionality will be announced over the coming months. CX2's regulatory filing will be made available for public comment prior to launch.
*Pending regulatory approval