Chi-X Canada, the alternative trading system for Toronto Stock Exchange (TSX)-listed shares operated by Chi-X Global, has increased its platform’s capacity by almost 500% to help it deal with an expected rise in message traffic in the Canadian market.
The ATS can now handle 175,000 messages per second with full redundancy, compared with 30,000 previously.
“The growth of electronic and algorithmic trading has led to an ever-increasing demand for order messaging capacity, so we are pleased that our platform can efficiently scale to address this need,” said Tal Cohen, CEO of Chi-X Canada, in a statement. “While the industry still has a way to go before actual message volumes require any venue, including the TSX, to process 175,000 messages per second, Chi-X Canada is prepared to handle the expected growth trajectory in overall volumes as the Canadian markets continue to evolve.”
Chi-X Canada is one of four displayed alternative trading platforms currently challenging the Toronto Stock Exchange for market share. The other three are Pure Trading, Alpha Trading and Omega ATS.