Additionally, Chi-X Canada announced today that it will add Smart Order Routing functionality in early April 2008. Chi-X Canadaâs Smart Order Router will route to all visible Canadian marketplaces, enabling its subscribers to capture the best available price. Once introduced, Chi-X Canada will be the first Canadian market centre to offer this capability.
âWe are encouraged by the early results of Chi-X Canada, and expect trading volumes to continue to increase now that our symbol migration is complete,â said Tony Mackay, CEO of Chi-X Global, a holding company for Chi-X platforms. âWe believe that the Canadian community will find great value in the platformâs unique combination of speed, price and functionality.â
âThe addition of smart order routing capability will be a significant differentiator for Chi-X Canada,â added Tal Cohen, head of Chi-X Canada**. âRouting orders at the market centre level means that investors not only receive the best price available, but also do so in fastest manner possible, which are two crucial components of best execution.â