Orc, a trading technology firm, has expanded its coverage of the Canadian markets to include the Aequitas NEO Exchange, a newly launched Canadian stock market.
The new connectivity covers order routing and market data for the Aequitas Lit Book and NEO Book, providing Orc clients with new market opportunities.
The NEO Exchange uses a new blueprint that seeks to put investors, capital-raising companies and their dealers first. It launched its trading platform and data services earlier this month and is on track to launch a public listing platform by mid-2015.
Its mandate is to use innovation and technology to bring more competition to the Canadian markets, for the benefit of all market participants. The NEO Exchange also aims to reduce the dealers’ cost of doing business and ensure their financial interests are aligned with the best execution interests of their clients.
“By leveraging technology and market innovation, we are committed to providing all market participants with a level playing field and ensuring all investors feel they have a fair chance to participate,” said Karl Ottywill, chief operating officer, Aequitas NEO Exchange. “We are pleased that Orc supports us in this new endeavour.”
Aequitas NEO Exchange Inc. is a wholly owned subsidiary of Aequitas Innovations Inc., a company founded by a diverse group of prominent investors representing all Canadian capital market stakeholders.
“We are excited to provide access to the NEO Exchange and to offer Orc clients new opportunities in the Canadian markets,” said Martin Nilsson, head of product management, Orc Group. “Our powerful connectivity solution coupled with the expansive market coverage of the NEO Exchange is unparalleled and we are committed to evolving our Execution Bricks offering.”