Scotia Capital partners with NYFIX, Inc. to deliver an independent, broker-neutral Indications of Interest (IOI) service to the Canadian equities market.
Under this partnership, the next generation of Scotia’s IOI service, TradeChat, will be powered by NYFIX’s global IOI service, ioinet. NYFIX ioinet’s analytics, filtering and buy-side order management system (OMS) integration capabilities will greatly enhance TradeChat clients’ ability to quickly find and capitalize on both Canadian and global trading opportunities without costly information leakage and market impact.
TradeChat is the pre-eminent IOI service in Canada today with more than 40 buy-side and 30 of the top sell-side firms in Canada using the service.
“We are committed to providing our clients with the best IOI service possible and are excited about the benefits that working with NYFIX will bring to our TradeChat clients,” says Patrick Burke, managing director and head of Institutional Equities at Scotia Capital. “NYFIX’s product capabilities, support services and commitment to evolving and expanding their global IOI business make them an ideal partner.”
“We are honored that Scotia Capital chose to partner with us in their efforts to provide their TradeChat clients with liquidity discovery tools. We believe this alliance will bring a number of benefits to TradeChat and ioinet clients alike and we look forward to powering and supporting the TradeChat service and adding their premier Canadian clients to our global IOI community,” says Bob Moitoso, global head of the FIX Division at NYFIX.
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