29 July 2016
Find out more

New Canadian exchange Aequitas chooses MillenniumIT for tech platform

03 June 2014  |  4601 views  |  0 Stock exchange screen up and down arrows

A new Canadian stock exchange hoping to take on TMX Group and keep out high-frequency traders has enlisted London Stock Exchange-owned MillenniumIT to build its technology platform.

Aequitas Innovations - which takes its name from the Latin for fairness - is hoping to have its exchange and private securities platform up and running by early next year.

The firm - which counts the Royal Bank of Canada, pension fund OMERS Capital Markets, and mutual fund manager IGM Financial among its backers - argues that "predatory" HFT practices have eroded investor and issuer confidence in the Canadian capital markets.

It plans to challenge bank-owned TMX Group, which dominates the Canadian equity markets, with a model designed to deter HFT firms through unattractive fees and speed bumps.

Following a request for proposals process, the group has now selected MillenniumIT to build a tailored platform based on the LSE-owned tech firm's trading, order-routing, and market data systems.

Jos Schmitt, CEO, Aequitas, says: "This tailored technology design will allow us to successfully deliver on our mandate to re-establish more fairness in the markets, strengthen the capital formation process and introduce innovation and meaningful competition in the marketplace landscape."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MillenniumIT signs Singapore Stock Exchange as first post-trade technology customer

MillenniumIT signs Singapore Stock Exchange as first post-trade technology customer

07 November 2013  |  4200 views  |  0 comments | 1 linkedin
TMX Group board backs Maple takeover bid

TMX Group board backs Maple takeover bid

31 October 2011  |  3610 views  |  0 comments
LSE calls off TMX deal; could become target itself

LSE calls off TMX deal; could become target itself

30 June 2011  |  5977 views  |  0 comments
LSE confirms £18m MillenniumIT deal

LSE confirms £18m MillenniumIT deal

16 September 2009  |  9036 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit VocaLink.comFind out more

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9627 views comments | 10 tweets | 4 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6871 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6073 views 0 | 6 tweets | 8 linkedin
UK and South Korea build 'fintech bridge'UK and South Korea build 'fintech bridge'
5992 views comments | 13 tweets | 14 linkedin
Finextra paper explores blockchain as an enabler of operational resilienceFinextra paper explores blockchain as an e...
5463 views comments | 12 tweets | 9 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job