Goldman Sachs Electronic Trading (GSET) today announced the expansion of its global crossing capabilities with the launch of Sigma X Canada.
Goldman Sachs Canada Inc. will offer access to SIGMA X Canada to registered Investment Dealers and their clients to trade Toronto Stock Exchange listed securities.
SIGMA X Canada is an Alternative Trading System (ATS) that will provide a broad source of Canadian equity liquidity. Built on the strength of GSET's state-of-the-art matching technology and leveraging its diverse subscriber and client base, the liquidity available within the ATS will offer enhanced execution and pricing results. Using pure price/time priority, SIGMA X Canada will anonymously match buyers and sellers and will offer guaranteed price improvement relative to the NBBO.
"The growth potential of the Canadian equity market is significant," said Todd Lopez, managing director and co-head of Americas sales, Goldman Sachs Electronic Trading. "We believe unique, alternative pools of liquidity will continue to play an important role in the Canadian market's development."
SIGMA X Canada is comprised of a host of liquidity participants, including broker dealers, hedge funds and institutions, in addition to Goldman Sachs liquidity. The matching engine resides in a third-party Toronto data center and subscribers can access SIGMA X Canada via direct FIX connectivity or a variety of EMS/OMS vendor providers.
"Since the original launch of SIGMA X in the US in 2005, GSET has established itself as a leading player in non-displayed crossing in major markets around the globe," said Adam Mazur, managing director and co-head of business development, Goldman Sachs Electronic Trading. "SIGMA X Canada complements our suite of non-displayed liquidity offerings we currently provide in the Americas, Europe and Asia and is an integral part of our global GSET strategy."
GSET's SIGMA X Canada is operated by Goldman Sachs Canada Inc.