Pure Trading is a new ECN being implemented by CNQ to trade Canadian listed equities. It will use the X-Stream trading engine (by OMX of Sweden) with modifications for Canadian trading rules. It will offer 3 protocols: STAMP, used exclusively in Canada; FIX, the international standard and direct API connection. Pure will introduce much needed competition to the ancient and inefficient TSX platform.
Pure will be available to both retail and institutional traders through all direct access brokers operating in Canadian markets. The speed and lower cost of Pure will make it the choice of systematic traders and arbs. Pure hasn’t disclosed any information about their fees other than giving brokers a choice between two fee schedules - I assume ticket and per share.
The launch date is October 12th 2006.
Enjoyed this? Don't miss the next one, grab the feed or