Wednesday December 9 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: International
Link: http://cmsca.chi-x.com/Portals/11/Docs/Press_Release_Nasdaq_to_Acquire_Chi-X_Canada.pdf
On 8th December 2015, Nasdaq announced that it will acquire Chi-X Canada, an Alternative Trading System for Toronto Stock Exchange (TSX) and TSX Venture Securities, from Chi-X Global. The acquisition will provide Nasdaq with direct access to the Canadian equities market. The deal is expected to close in the first quarter of 2016, and be accretive to the company`s earnings at closing, excluding transaction-related costs.
The deal will expand Nasdaq’s North American equities trading business beyond the U.S., where Nasdaq currently operates multiple trading venues in cash equities, options, commodities, fixed income and other financial instruments. The acquisition will ultimately enhance the trading experience for customers by promoting greater uniformity in technology and functionality across U.S. and Canadian trading venues.
Chi-X Canada’s two platforms, Chi-X Canada and CX2, are the only equity trading venues in Canada to offer fully-customizable smart order routing to all market centres, and offer two trading models: post trade attribution and advanced order types. Both also provide trade reporting, risk management tools and direct connectivity.
Click on the link above for further details.