[This message was posted by FPL Program Office of FIX Protocol Ltd. <[email protected]> to the "Announcements" discussion forum at http://fixprotocol.org/discuss/30.]
FIX Protocol Limited (FPL) would like to thank Stratix Consulting for organizing the FPL Canadian Electronic Trading Conference from 2005-2009. This event was developed by the FPL Americas Regional Committee to provide an educational forum where the key opportunities and challenges impacting the growth of electronic trading practices and FIX adoption in the Canadian market could be addressed. Working closely with Stratix Consulting, the FPL Canadian Electronic Trading Conference has effectively supported efforts to achieve these goals. Stratix Consulting has decided that they will not be organizing the 2010 FPL Canadian Electronic Trading Conference. Instead, Stratix has stated that they intend to more closely align their 2010 marketing program with their target client base across the Financial Services industry focusing on their IT Consulting Services and Professional Services offerings. Developing an increased understanding of the benefits that electronic trading and the FIX Protocol offer to the Canadian marketplace is important to FPL and the organization plans to continue conducting further initiatives, including hosting future events in Canada, details of which will be communicated to the FPL Membership and wider industry participants. FPL would also like to take this opportunity to specifically thank Bob Smythe, VP, Research & Market Development at Stratix Consulting for his significant contribution to the success of this event since its inception, and we look forward to Mr. Smythe’s continued participation in the development of FPL Canadian Electronic Trading Conferences going forward. When the conference started five years ago, Canada was slow in its uptake of electronic trading compared to the U.S. Today high frequency electronic trading accounts for approximately 15-20% of trading volume in Canada(1) and is likely to increase even further this year(2). But there is still some distance to go to match the recently reported statistic that high-frequency trading now accounts for more than 70% of daily equity volume in the U.S(3). At the current rate of growth, Canada could be approaching current U.S. electronic trading levels within just a few years. FPL has been instrumental in supporting the growth of electronic trading in Canada, but there is still much to be done by all market participants. FPL will continue to be a key supporter of this growth. A major area of focus will be providing the buy-side with information that will assist them in benefiting from the pools of liquidity and lower spreads created by high frequency trading, as well as achieving higher end-to-end operational efficiencies through electronic trading. Regards FPL Program Office 5 Hanover Square New York, NY 10004 Tel: + 1 212 652 4469 Fax: + 1 212 422 8570 www.fixprotocol.org Sources: 1 Globe and Mail (July 31st 2009). ‘TMX trading revenue weakens as fee-cutting starts to bite’, reported by Jennifer Kwan. Available online www.theglobeandmail.com/report-on-business/tmx-trading-revenue-weakens-as-fee-cutting-starts-to-bite/article1235876/ (Downloaded: August 21st 2009) 2 Reuters (June 24th 2009). ‘Canada Finance-Highly active electronic traders shop in Canada’, reported by Jennifer Kwan. Available online www.reuters.com/article/companyNewsAndPR/idUSN2343857720090624 (Downloaded: August 25th 2009) 3 Securities Industry News (August 3rd 2009). ‘High Noon For High Frequency Profits are now measured in microseconds Will regulators tell traders Not so fast?’, reported by Katherine Heires. Available online www.securitiesindustry.com/issues/19_101/-23768-1.html?zk (Downloaded August 21st 2009) [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en -~----------~----~----~----~------~----~------~--~---
