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February 7, 2010

Chi-X Canada, Atrium Network To Launch Low Latency Managed Network Solution

Chi-X Canada Alternative Trading System and Atrium Network, a provider of connectivity for the financial community, plan to launch a live market ecosystem, enabling equity market participants to access each of Canada’s five displayed marketplaces through a single ultra low-latency connection.

By CBR Staff Writer

Access to the dedicated ‘dark fibre’ ecosystem will be provided from Chi-X Canada’s primary data centre in Toronto, which sits at the terminus of several of the long-haul fibre optic cables originating in New York and Chicago.

Chi-X Canada’s aim is to create a trading ecosystem for proximity-hosted access to Canada’s displayed trading venues and should be particularly appealing to market participants that currently access the Canadian equity marketplaces through a trading technology vendor and are seeking a lower-latency, turn-key solution.

Tal Cohen, CEO of Chi-X Canada, said: “The new Chi-X Canada/Atrium ecosystem will provide access to the Canadian markets and Chi-X Canada’s back up data centre in the Exchange Tower through a single, dedicated connection that is not only an extremely cost-effective solution, but one that will free trading participants’ internal technology resources to focus on their core businesses.”

Emmanuel Pelle, executive director at Atrium Network, said: “Earlier this month, we announced the opening of our two new Points of Presence (PoPs) at Front Street and Q9, Wellington Street. Our connectivity to Chi-X Canada’s primary matching engine in Front Street provides critical ultra low-latency access essential in today’s high-speed trading environment.

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“Our approach to providing single point connectivity to the major trading venues and our investment in the new Canadian PoPs offers Chi-X Canada’s participants increased choice in how they connect and route to this major electronic trading venue in addition to connecting Atrium Network’s global community into Chi-X Canada.”

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