Canadian ‘challenger’ exchange Aequitas, which plans to favour long-term investors by discouraging HFT, has chosen a trading engine and several other tools from MillenniumIT, the Sri Lanka-based technology company owned by the London stock Exchange.
Canadians are in a hurry to get rid of their cash – at least as a method of payment, nor are they content with the contactless tap-and-go cards currently in use; they are anxious to replace cards with contactless smartphone technology, writes Aaron Rosland, senior economic counsellor for the Government of Ontario, Canada.
A new Canadian stock exchange aimed at retail and long-term investors is planning its debut next year, offering a service designed to curb high-frequency trading and support capital raising.
Former Alpha ATS chief Jos Schmitt is planning a new stock exchange for Canada, to be called Aequitas Exchange, which will take on incumbent TMX Group.
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
The London Stock Exchange’s FTSE Group and Canadian exchange TMX have signed an agreement to combine their fixed income index business in a new joint venture, resurrecting at least part of the cooperation originally planned under the two exchanges’ failed merger back in June 2011.
The National Bank of Canada is to use algorithmic trading tools and market access from Nordic technology company Orc, through its subsidiary National Bank Financial.
Market data and technology company Activ Financial has expanded its risk gateway tool to cover all Canadian exchanges, ahead of new rules that will require market participants in Canada to have pre-trade risk controls in place across all asset classes from next month.
Canada’s CIBC bank has launched a novel promotion aimed at increasing uptake of NFC technology for mobile payments.
