Execution management systems (EMS) providers Fidessa Group and FlexTrade Systems said in separate announcements that they have signed connectivity agreements with the Chi-X Canada alternative trading system (ATS) introduced earlier this year by New York-based agency brokerage Instinet.
Modelled after the Chi-X platform in Europe, which launched last year, the Canadian ATS offers a continuous auction market for securities listed on the Toronto Stock Exchange, which earlier this month completed its merger with the Montreal Exchange derivatives market.
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