Chi-X Canada completes symbol migration

Source: Instinet

Chi-X Canada ATS Limited, a wholly-owned subsidiary of global securities firm Instinet and operator of Chi-X Canada, today announced that all TSX-listed securities*, approximately 2,200 stocks, are now available for trading on the system.

The symbol migration was completed ahead of schedule after starting with the initial release of 10 names on February 20.

Additionally, Chi-X Canada announced today that it will add Smart Order Routing functionality in early April 2008. Chi-X Canada's Smart Order Router will route to all visible Canadian marketplaces, enabling its subscribers to capture the best available price. Once introduced, Chi-X Canada will be the first Canadian market centre to offer this capability.

"We are encouraged by the early results of Chi-X Canada, and expect trading volumes to continue to increase now that our symbol migration is complete," said Tony Mackay, CEO of Chi-X Global, a holding company for Chi-X platforms. "We believe that the Canadian community will find great value in the platform's unique combination of speed, price and functionality."

"The addition of smart order routing capability will be a significant differentiator for Chi-X Canada," added Tal Cohen, head of Chi-X Canada**. "Routing orders at the market centre level means that investors not only receive the best price available, but also do so in fastest manner possible, which are two crucial components of best execution."

* Includes all TSX-listed securities denominated in Canadian Dollars.

** Subject to regulatory approval.

Comments: (0)