As demand for connectivity increases across North America, firms are continually looking for a secure and reliable network for executing trades. Member firms on IPC Systems’ Connexus Financial Extranet service will now provide access to trade on Chi-X Canada and its recently launch CX2, as IPC announced today that Chi-X is the newest market centre to join the Connexus network.
This new connection gives traders an extended reach into global capital markets around the world through Connexus’ high-speed bandwidth and reliability through multiple connections to end-points. Traders will be able to access liquidity on both Chi-X Canada and CX2 through IPC’s FIX order flow and Market Data products, giving traders more choice through its cost effect solutions.
“We are pleased that IPC traders will have access to both Chi-X Canada and CX2. This is an exciting time for Chi-X, as we set a new record in August capturing 21% market share for TSX-listed securities,” said Dan Kessous, CEO of Chi-X Canada “Through Connexus, IPC traders will be able to take advantage of new trading opportunities and will be able to access new liquidity in the Canadian market.”
“Connexus members can now trade on Chi-X Canada and CX2 via the secure network they are already familiar with,” said Joe Pickel, vice president, Network Services Product Management, IPC. “The Chi-X integration into the Connexus network has expanded to IPC customers and they can now trade on Canada’s largest ATS.”
The Connexus Financial Extranet is part of the IPC Financial Markets Network service portfolio which also includes private extranet and DirectConnect data services, as well as Trader and Enhanced voice connectivity services. IPC’s Financial Markets Network interconnects global financial centers and allows access to more than 4,000 market participant locations in over 700 cities in nearly 60 countries. Built on an IP/MPLS backbone, the highly scalable and secure Connexus supports a number of industry standard and trading protocols.
IPC offers high- and low-touch trading communications solutions to the global financial trading community including the top investment banks, hedge funds and investment managers in established and emerging markets. With a 100-percent focus on this sector and nearly 40 years of expertise and an unrivaled record of innovation, IPC provides customers with unified solutions that support collaborative voice trading and real-time electronic trading and market data connectivity. IPC’s offerings include the first unified communications/application platform, award-winning hard and soft turrets, electronic connectivity services including enhanced voice services, business continuity solutions, and follow-the-sun service and support. IPC’s global reach extends to nearly 60 countries – including a financial extranet of 4,000 on-net locations in over 700 cities and more than 115,000 turrets deployed worldwide. Headquartered in Jersey City, New Jersey, IPC has approximately 1,000 employees located throughout the Americas and the EMEA and Asia-Pacific regions. For more information, visit www.ipc.com.
Chi-X Canada is a high-performance alternative trading system (ATS) marketplace for the trading of TSX and TSXV-listed securities from 8:30 am to 5:00 pm ET. The market, which is the largest ATS platforms in Canada, offers strict price/time priority, post-trade attribution, market-agnostic smart routing, advanced order types, trade reporting, risk management tools, historical market data, co-location and cross connectivity services. Like all of the Chi-X Global platforms, Chi-X Canada and CX2 aim to provide cost savings to investors through trading efficiencies, ultimately helping to improve investment performance. ****
Owned by a consortium of major financial institutions, Chi-X Global operates Chi-X Australia, Chi-X Canada, Chi-X Japan and CX2. Its Chi-Tech technology services unit provides technology to its business lines and its Chi-FX platform is planned for launch in Brazil in 2013 in a venture with BM&FBOVESPA.****