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Agency Broker Chooses Chi-Tech for Trading Infrastructure

Chi-X Global Technology, Chi-Tech, the technology services unit of Chi-X Global, has deployed its MarketPrizm trading infrastructure platform for independent agency brokerage, Oddo & Cie.

Chi-X Global Technology, Chi-Tech, the technology services unit of Chi-X Global, Inc., today announced it has deployed its MarketPrizm trading infrastructure platform for independent agency brokerage, Oddo & Cie.

The MarketPrizm platform is an ASP-based algorithmic trading infrastructure that assists brokerage firms in trading effectively and cost-efficiently in the European markets. The MarketPrizm configuration, delivered to Oddo & Cie’s requirements, provides inbound market data for the firm’s selected markets, while Quod Financial, with whom Chi-Tech partnered for this deployment, delivers direct market access and Smart Order Routing (SOR) functionality. As part of the end-to-end service, Chi-Tech will provide ongoing maintenance and operations support.

“MiFID has resulted in the need for brokers to provide new trading capabilities in order to remain competitive,” said Tarak Achiche, Chief Operating Officer for Oddo & Cie, in a release. “After an extensive search to find a technology partner that could help us meet our needs, we selected Chi-Tech’s MarketPrizm solution because, among other things, it enables us to efficiently and affordably manage our algo trading processes while helping our clients meet their best execution requirements,” she added.

“We have delivered to Oddo & Cie a comprehensive algorithmic trading infrastructure that is tailored to its business needs, compatible with its existing technical environment and designed to meet its clients’ MiFID best execution goals,” said Nicolas Levy, Managing Director for Chi-Tech’s MarketPrizm solution group, in the release.“With this flexible, fully-managed solution, Oddo can control costs and quickly adapt to changes in business requirements, trading strategies and shifts in liquidity.”

MarketPrizm was originally developed by Cicada, a data management and dissemination technologies provider for the financial markets, the principal assets of which were acquired by Chi-X Global in November 2008 to form

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