Scotiabank Launches Canadian Algo Platform

Scotiabank celebrated the launch of its next generation algorithmic trading platform in Canada by ringing the Opening Bell at the Toronto Stock Exchange. The new platform is made available to clients through a strategic agreement with BestEx Research and features state-of-the-art technology designed specifically to serve the unique needs of the Canadian equities market. The launch of this platform with Scotiabank in Canada marks a step forward in BestEx Research’s global expansion.

Over the last two years, we have worked with BestEx Research to provide our clients with market-leading algorithmic execution quality in the U.S.” said Pruyn Haskins, Global Head of Equities at Scotiabank. “We are thrilled to work with BestEx Research again – combining their unique pricing models and our Canadian market structure expertise – to provide Scotiabank clients with a leading algorithmic platform for the Canadian marketplace.”

Scotiabank’s state-of-the-art platform provides institutional investors with a single-ticket order experience across the Americas. The new Canadian offering is based on research-driven logic to significantly reduce costs and offers top tier trading performance for clients.

“Many algorithmic trading solutions offered in Canada are adapted from algorithms originally designed for U.S. markets,” said Hitesh Mittal, Founder and CEO of BestEx Research. “Through our collaboration with Scotiabank, traders can access our innovative execution algorithms, developed from the ground up and tailored for the unique structure of the Canadian market. This offering marks another step forward in our mission to deliver customizable, high-performing solutions for our buy-side and sell-side clients trading equities, futures, and foreign exchange globally.”

Source: Scotiabank