TSX-listed securities, approximately 2,200 stocks, are now available for trading on the Chi-X Canada ATS Ltd system.
The symbol migration was completed ahead of schedule after starting with the initial release of 10 names on 20 February.
Additionally, Chi-X Canada will add Smart Order Routing functionality in early April 2008. Chi-X Canadas Smart Order Router will route to all visible Canadian marketplaces, enabling its subscribers to capture the best available price. Once introduced, Chi-X Canada will be the first Canadian market centre to offer this capability.
“We are encouraged by the early results of Chi-X Canada, and expect trading volumes to continue to increase now that our symbol migration is complete. We believe that the Canadian community will find great value in the platforms unique combination of speed, price and functionality,” says Tony Mackay, CEO of Chi-X Global, a holding company for Chi-X platforms.
“The addition of smart order routing capability will be a significant differentiator for Chi-X Canada. Routing orders at the market centre level means that investors not only receive the best price available, but also do so in fastest manner possible, which are two crucial components of best execution,” adds Tal Cohen, head, Chi-X Canada.