CIX Trading has received approval from Canada’s securities regulator and investment industry self-regulatory organization, positioning its new alternative trading system to begin operations in early September.CIX Trading has secured the regulatory approvals required to launch its alternative trading system (ATS) in Canada, marking a significant milestone for the company’s planned entry into the country’s equity trading landscape. According to the announcement, the Ontario Securities Commission (OSC) has authorized CIX to operate an ATS, while the Canadian Investment Regulatory Organization (CIRO) has approved the firm’s registration as both a Dealer Member and Marketplace Member.
With those approvals in place, CIX said it expects to begin operating its marketplace in early September. The company says its platform is designed to provide Canadian investors with modern trading infrastructure aimed at improving execution quality, increasing market efficiency, and expanding access to equity markets.
Founder and CEO Jeff Foster said the launch is intended to narrow what the company views as an innovation gap between Canadian and U.S. equity markets. CIX argues that introducing new trading technology can strengthen market competitiveness while providing investors with additional liquidity and execution options.
Ahead of launch, CIX also disclosed several changes to its original operating plan. The company has removed its proposed Mixed Central Limit Order Book (Mixed CLOB) from the initial rollout and said it will seek regulatory approval for that functionality at a later date. In addition, fractional share trading and extended-hours trading have been postponed until the fourth quarter of 2026, subject to CIRO readiness. When extended-hours trading becomes available, it will initially support securities listed on the Toronto Stock Exchange and CBOE Canada, with broader coverage expected to require further regulatory approval.
CIX plans to operate multiple trading venues built on technology licensed from IntelligentCross, a U.S.-based alternative trading system. The company says the platform is intended to reduce trading costs and improve execution outcomes through advanced order-matching technology.
Key Takeaways
- CIX Trading has received approval from both the OSC and CIRO to operate its alternative trading system.
- The company is targeting an operational launch in early September 2026.
- Fractional share trading and extended-hours trading are now expected in Q4 2026, subject to regulatory readiness.
- The proposed Mixed CLOB feature has been removed from the initial launch and may be introduced later.
- CIX says its platform is designed to improve execution quality, liquidity, and innovation in Canadian equity markets.
Sources
- CIX official website: CIX Trading
