Chi-X Canada ATS, a subsidiary of agency broker Instinet reported record trading volumes of 5.5 million shares on 16 September. Over the last week, the alternative trading platform has averaged over 4.5 million shares per day in trading volume. Additionally, the ATS recently added its 37th member participant.
“Our trading volumes have steadily increased since our launch,” said Tal Cohen, CEO, Chi-X Canada. “We are consistently trading 10-15 percent of the overall daily volume of certain S&P/TSX 60 names, such as Nexen, Cameco and Petro Canada. Additionally, with trades on Chi-X Canada regularly realising price improvement as compared to the primary exchange due to our offering of pegged and hidden order types, brokers who are not connected will soon need to revisit their best execution policies,” he added.