FlexTrade links SOR to Canada’s Alpha ATS

Trading systems provider Flextrade has connected the smart order routing function of its FlexTRADER execution management system (EMS) to Alpha ATS, the Canadian alternative trading platform that went live on 7 November.

“The successful integration of high-velocity trading applications and smart order routers, such as FlexTRADER EMS, with our trading technologies is critical to the success of our marketplace,” said Jos Schmitt, CEO of Alpha ATS, in a statement.

Vijay Kedia, president and CEO of FlexTrade, added that almost 20% of Alpha’s executed trading volume has come from FlexTrade users since the platform went live.

Alpha ATS is an alternative platform for trading stocks listed on the Toronto Stock Exchange (TSX). Its parent company, Alpha Group, was established in May by a consortium of nine brokers: BMO Capital Markets, Canaccord Capital Corporation, CIBC World Markets, CPP Investment Board, Desjardins Securities, National Bank Financial, RBC Capital Markets, Scotia Capital and TD Securities.