CIBC World Markets integrates algorithms with Charles River IMS

Source: CIBC World Markets

CIBC World Markets has enhanced its trading systems with the official launch of its suite of inter-listed Canadian algorithms on the Charles River Investment Management System (Charles River IMS) order management system.

"We are excited to be the first Canadian-based dealer to provide its algos on Charles River Development's award-winning system," said Martin Piszel, Managing Director, Alternative Execution Services, CIBC World Markets. "Charles River's IMS and FIX network expedited the deployment process and allowed us to make front-end changes that provided mutual clients with instant access to our algorithmic suite."

"CIBC World Markets' work with Charles River reinforces our commitment to invest in technology that provides our clients in Canada and around the world with best-in-class trading platforms. Our suite of algorithms on Charles River IMS was developed in-house. They reflect the unique trading characteristics of Canadian equities and boast a successful four-year track record," adds Mr. Piszel.

"Our 290 clients worldwide continue to demand new trading tools and strategies to access liquidity and achieve best execution," said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. "We're developing a number of new liquidity solutions to meet this demand, including the ability to use leading algos, such as CIBC World Markets'."

CIBC World Markets algorithms offer intelligent strategies, focused order-placement logic, and best market executions across Canadian/US inter-listed securities. The inter-listed algorithms added to Charles River IMS include VWAP, POV, Implementation Shortfall/Arrival Price, Hide and Hit (hidden limit order) and TWAP.

The Alternative Execution Services Group at CIBC World Markets is working to integrate its Canadian algorithmic suite with leading global EMS providers.

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