Canadian alternative trading system (ATS) Chi-X Canada, a subsidiary of alternative trading venue operator Chi-X Global, traded 71,731,700 shares, more than 10% of total Toronto Stock Exchange listed share volume on 27 April 2011, according to the firm's own figures.
The figure is a record for the company, which accounted for 19.36% of the market's overall trades, 11.14% of the market's overall value traded and handled 13.16% of the market's overall volume through its smart router on that day.
Data provider Thomson Reuters currently ranks Chi-X Canada in third place for equities market share by volume behind incumbent exchange operator TMX Group and rival ATS provider Alpha Group.
“Over the past few months, Chi-X Canada has seen a steady increase in its volumes due primarily to participants' reaction to several new products and services we have launched, such as post-trade attribution, our next generation Smart Router and our Chi-Controls risk management dashboard,” said Dan Kessous, chief operating officer of Chi-X Canada.
Chi-X Canada has stated that its trading engine is currently capable of trade processing volumes of more than 175,000 order actions per second, with an average latency of under one millisecond.
set to launch dark pools this year and TMX Group working on its own ATS, TMX Select, which is expected to launch in June 2011 and is designed to attract high-frequency traders.