To accommodate the increased traffic in the Canadian market
Chi-X Canada ATS (Alternative Trading System) has increased the capacity of its trading platform to handle 175,000 messages per second, with full redundancy, from its previous capacity of 30,000 messages per second. Reportedly, it provides the system with headroom for messages to accommodate the increased traffic in the Canadian market.
Tal Cohen, CEO of Chi-X Canada, said: “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. 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.”
Matthew Trudeau, COO of Chi-X Canada, said: “Our unique market model, combined with the performance and sophistication of our matching engine, proprietary smart order router and advanced order types, we believe, makes Chi-X Canada the most innovative trading platform in the market.”