The Chi-X alternative trading system in Canada announced that Pico Technologies will offer its low-latency infrastructure from Chi-X Canada’s primary data center on Feb. 1.
Pico Technologies is a division of U.S. based- Pico Quantitative Trading, an agency-only broker-dealer that caters to high-frequency traders. Pico, which specializes in multi-asset electronic trading, offers low-latency services with direct exchange connectivity, raw and consolidated market data feeds, and the ability to connect with brokers for trade execution.
Dan Kessous, chief executive officer of Chi-X Canada, said in a statement that Chi-X remains committed to bringing greater trading efficiencies to the Canadian equities market.
"Pico Technologies’ low latency infrastructure will provide our clients a turnkey hosting platform for co-location with Chi-X and provide market participants with greater choice and flexibility," Kessous said.
Last year, a consortium of investors including Bank of America Merrill Lynch, Getco, Goldman Sachs, Morgan Stanley and Quantlab Group took a minority stake in Chi-X Global. Nomura-owned Instinet remains the largest equity holder in the company.
