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June 11th, 2008 - Chi-X Canada ATS Limited has announced it has completed the rollout of its SmartRouter technology to subscribers

Chi-X Canada Completes SmartRouter Rollout

Tal Cohen, head of Chi-X Canada: "We also believe that this offering will play a large role in helping brokers meet their best price obligation".

Chi-X Canada's proprietary SmartRouter is based on the next-generation of Instinet's existing smart-order routing technology. The service not only routes orders to the Canadian market centre with best available price - the main stipulation of the Investment Industry Regulatory Organization of Canada's (IIROC) best price obligation - but also allows users to post buy or sell orders on multiple markets. Chi-X Canada believes this market-level innovation will soon become a critical component for all market centres in Canada.

"Our proven, proprietary smart-order routing technology is a significant differentiator, as we are the first and only market centre to offer this service today," said Tal Cohen, head of Chi-X Canada. "We also believe that this offering will play a large role in helping brokers meet their best price obligation, and that it is consistent with IIROC's recent comments suggesting that this functionality should exist at the market centre level."