Nasdaq acquires Chi-X Canada

By Staff | December 8, 2015 | Last updated on December 8, 2015
1 min read

Nasdaq has announced it will acquire Chi-X Canada, an alternative trading system, for the TSX and TSX Venture Securities for an undisclosed amount.

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.

“This acquisition is an important part of our North American strategy as Chi-X handles about 22% of the order flow of S&P/TSX Composite securities in Canada,” says Hans-Ole Jochumsen, president, Nasdaq. “The addition of these thriving marketplaces will create a powerful combination for investors.”

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.

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.