Fidessa group plc has revealed its provision of connectivity to Chi-X Canada, the high-performance, fully anonymous and low-cost alternative trading system (ATS) offering a continuous auction market in securities listed on the Toronto Stock Exchange.
The connectivity arrangement offers Fidessa users an additional source of displayed liquidity in the Canadian marketplace.
“Were excited to announce todays connectivity arrangement with Fidessa, as it provides market participants with more choice in how they route orders to and receive pricing information from Chi-X Canada,” says Tal Cohen, head of Chi-X Canada.
Chi-X Canada is a high-performance, fully-anonymous and low-cost continuous alternative trading system (ATS) for TSX-listed securities. Chi-X Canada supports a wide array of advanced order types, is based on strict price-time priority and provides participants with the ability to smart route orders to any displayed equities marketplace in Canada.
Access to Chi-X Canada is available through the Fidessa Canadian trading platform, as well as via FIX through Fidessas global connectivity network. With the advancement of smart order routing functionality within Fidessas trading platform, users can be assured that they are achieving best execution in a market system with multiple displayed quotes.
“Fidessa continues to connect to new liquidity venues in Canada as they launch. Chi-X Europe is proving itself as a popular liquidity destination and we are confident that the uptake for connectivity to Chi-X Canada by our customers will be strong,” says Ron Lee, head of Fidessa Canada.
Fidessas Canadian trading platform combines electronic order and execution workflow along with real-time, multi-currency trading, position keeping and reporting. Fidessas advanced trading tools include: Pairs trading, List Management and Wave trading tools along with Fidessa BlueBox; Fidessas Algorithmic Management System (AMS) that is totally integrated within the Fidessa Order Management System (OMS). Comprehensive real-time market data is also seamlessly integrated into Fidessa, including fundamentals, charts and historical trade time and sales displays.
The Fidessa network provides global connectivity to around 1,500 buy-side institutions, 255 brokers and 92 exchanges globally.