Chi-X Canada to Launch New ATS in 2013
Chi-X Canada has announced plans to launch a second lit marketplace early next year.
The new alternative trading system, CX2, will open in the first quarter of 2012─subject to regulatory approval─and will be accessible automatically to existing clients of Chi-X Canada.
Dan Kessous, Chi-X Canada CEO, says the aim is to target under-served areas of the market such as institutional and retail investors, while he predicts CX2 will have a significant effect on the country's trading landscape.
"Canada's equity landscape will soon change dramatically," he says. "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."
We hope to satisfy the trading community's demand for healthy competition and ensure Canada remains at the forefront of innovation domestically and globally.
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