CHI-X CANADA CITES PRICE IMPROVEMENT FIGURES

Posted February 17, 2009

TORONTO – Participants trading on the Chi-X Canada ATS achieved an average 2.55 basis points of price improvement in January, the alternative trading system venue reports. Investors achieved savings of C$731,132 on trading of about C$3.1 billion in notional value during January, according to Chi-X Canada.

“Globally we have seen competition from alternative trading venues tighten spreads and increase liquidity,” says Tal Cohen, Chief Executive Officer, Chi-X Canada. “As January’s figures indicated, those benefits are now evident in Canada, with early adopters of Chi-X Canada rewarded with savings. With Chi-X Canada’s advanced order types, such as mid-point pegging, driving these savings, we are well-equipped to help investors increase performance in a market where alpha generation is extremely difficult to come by.”

Chi-X Canada is planning to introduce X Factor, a new pricing plan, on March 2. Under X Factor, liquidity providers will be rebated C$0.0033 and liquidity takers will be charged C$0.0028 per share. The new rates will be in effect for all of March or until total Chi-X Canada volume reaches 250 million shares.