01.17.2012

Chi-X Canada Welcomes Pico Quantitative Trading to its Financial Ecosystem

TORONTO – January 17, 2012 – Chi-X® Canada ATS Limited, a wholly owned subsidiary of alternative trading venue operator Chi-X® Global Holdings LLC, today announced that Pico Technologies, a division of Pico Quantitative Trading LLC, will offer its low latency infrastructure from Chi-X Canada’s Primary Data Center at 151 Front Street.

Pico Technologies provides low-latency technology services, including the provision of a fully managed hosting solution with direct exchange connectivity, raw and consolidated market data feeds, and the ability to connect with brokers for trade execution.

“Chi-X Canada remains committed to bringing greater trading efficiencies to the market, and we are excited by today’s announcement given the alignment of Chi-X and PQT’s businesses,” said Dan Kessous, CEO of Chi-X Canada. “Pico Technologies’ low latency infrastructure will provide our clients a turnkey hosting platform for colocation with Chi-X and provide market participants with greater choice and flexibility.”

“We are very pleased to partner with Chi-X Canada, given their reach within the Canadian market place, their premium data center location at 151 Front Street, and their focus on trading efficiency for all investors,” said Clarke Roberts, Co-Founder and Head of Sales at PQT. “We are excited to work closely with Chi-X, as Canada is an important market to our clients and we continue to receive strong demand for low latency trading connectivity solutions.”

About Chi-X® Canada
Chi-X Canada is a high-performance alternative trading system (ATS) marketplace for the trading of TSX and TSXV-listed securities from 8:30 am to 5:00 pm ET. The market, which is one of the largest ATS platforms in Canada, offers strict price/time priority, post-trade attribution, market-agnostic smart routing, advanced order types, trade reporting, risk management tools, historical market data, co-location and cross connectivity services. Like all of the Chi-X Global platforms, Chi-X Canada aims to provide cost savings to investors through trading efficiencies, ultimately helping to increase the overall market’s volume.

About Chi-X® Global
Owned by a consortium of major financial institutions, Chi-X Global operates Chi-X Australia, Chi-X Canada and Chi-X Japan, and jointly operates Chi-East, a 50:50 venture with a subsidiary of the Singapore Exchange. Its Chi-Tech technology services unit provides technology to its business lines and its Chi-FX platform is planned for launch in Brazil during Q1 2012 in a venture with BM&FBOVESPA.

About Pico Technologies
Pico Technologies is the technology services division of Pico Quantitative Trading LLC (www.picotrading.com), an agency-only U.S. broker-dealer that specializes in providing multi-asset electronic trading clients with services ranging from client coverage to market structure, stock loan,
Chi-X Canada ATS Limited

Related articles