Can Canada follow in the US’s footsteps in overnight trading?
Canadian marketplaces and trading venues are in a race to see who can first authorize overnight equities trading, but not everyone is convinced of its value.
With the world’s largest and most liquid market at Canada’s border, some feel the country needs to be a fast follower of the US’s lead in extended hours equity trading to remain competitive.
Achieving this seems to be a race not only of who can get there first, but who can get it right. CIX Trading, an aspiring alternative trading system (ATS) based in Toronto, aims to offer trading in all listed Canadian equities. It is going toe-to-toe with TMX Group, the country’s largest exchange operator
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