Chi-X Canada plans new ATS for early 2013
First Published 17th August 2012
Chi-X Canada plans to launch a new alternative trading system called CX2, with a focus on institutional and retail investors.
Toronto - Chi-X Canada ATS Limited said it plans to launch a second lit marketplace called CX2 in the first quarter of 2013.
"Canada's equity landscape will soon change dramatically. With CX2, we hope to satisfy the trading community's demand for healthy competition and help ensure that Canada remains at the forefront of innovation both domestically and globally," said Dan Kessous, CEO of Chi-X Canada.
"Since our launch we have been committed to providing greater transparency and the means to reduce execution costs. CX2 aims to target under-serviced areas of the market such as institutional and retail investors. We're excited to build upon Chi-X's history of innovation with this launch."
Chi-X Canada said participants will be able to leverage existing connectivity to access CX2. It said more information about pricing and functionality will be announced over the coming months and a regulatory filing also will be made available for public comment.