Fidessa group plc (LSE:FDSA) the world leading provider of trading systems, market data and global connectivity, today announced its provision of connectivity to Chi-X Canada, the high-performance, fully anonymous and low-cost alternative trading system (ATS) offering a continuous auction market in securities listed on the Toronto Stock Exchange.
The connectivity arrangement offers Fidessa users an additional source of displayed liquidity in the Canadian marketplace.
"We're excited to announce today's connectivity arrangement with Fidessa, as it provides market participants with more choice in how they route orders to and receive pricing information from Chi-X Canada," said Tal Cohen, head of Chi-X Canada.
Chi-X Canada is a high-performance, fully-anonymous and low-cost continuous alternative trading system (ATS) for TSX-listed securities. Chi-X Canada supports a wide array of advanced order types, is based on strict price-time priority and provides participants with the ability to smart route orders to any displayed equities marketplace in Canada.
Access to Chi-X Canada is available through the Fidessa Canadian trading platform, as well as via FIX through Fidessa's global connectivity network. With the advancement of smart order routing functionality within Fidessa's trading platform, users can be assured that they are achieving best execution in a market system with multiple displayed quotes.
Ron Lee, head of Fidessa Canada says: "Fidessa continues to connect to new liquidity venues in Canada as they launch. Chi-X Europe is proving itself as a popular liquidity destination and we are confident that the uptake for connectivity to Chi-X Canada by our customers will be strong."
Fidessa's Canadian trading platform combines electronic order and execution workflow along with real-time, multi-currency trading, position keeping and reporting. Fidessa's advanced trading tools include: Pairs trading, List Management and Wave trading tools along with Fidessa BlueBox; Fidessa's Algorithmic Management System (AMS) that is totally integrated within the Fidessa Order Management System (OMS). Comprehensive real-time market data is also seamlessly integrated into Fidessa, including fundamentals, charts and historical trade time and sales displays.
Separately, FlexTrade Systems, a global leader in brooker-neutral multi-asset algorithmic trading systems, today announced that its FlexTrader EMS smart router is now providing full connectivity to Chi-X Canada, a high-performance, fully-anonymous and low-cost alternative trading system (ATS) offering a continuous auction market in securities listed on the Toronto Stock Exchange.
"The recent launch of Chi-X Canada opens up a new venue for our clients trading equities in the Canadian market," said Vijay Kedia, President and CEO of FlexTrade. "Combined with the cutting-edge smart router technology inherent in FlexTRADER, they will now be able to access a broader suite of equity exchanges in Canada with complete anonymity, increased transaction speed, greater liquidity and lower transaction costs."
"From Day One we have focused on working with the vendor community to make the process of trading on Chi-X Canada as easy and seamless as possible," said Tal Cohen, head of Chi-X Canada. "We're excited to announce today's connectivity arrangement with FlexTrade, as it provides market participants with more choice in how they route orders to and receive pricing information from Chi-X Canada."