Agency broker Instinet Inc. said today that its Canadian unit completed the rollout of an electronic trading platform featuring a suite of event-driven trading algorithms and a smart order router that works simultaneously with U.S. and Canadian exchanges.
The firm also said that it started the regulatory filing process to launch Instinet Canada Cross, a Canadian alternative trading system. The ICX, which is scheduled to launch during the of 2011, will include two dark pools, a pre-market VWAP cross, and Instinet BLX, an algo-friendly dark pool aimed at building block trades, Instinet said.
"The Canadian equity markets have rapidly evolved over the last several years and today demand sophisticated trading technologies on par with those required in other leading global markets," Jonathan Kellner, president of Instinet's Americas division said in a statement. As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio