The firm reports that its initial industry test occurred on Jan. 24, involving a number of trading and market data solution providers, along with a broad cross-section of dealers. Aequitas notes that Activ Financial, Integrated Transaction Systems (ITS), IRESS, Thomson Reuters and ITG Canada participated in the test, along with others.

The exchange, which is backed by a number of buy-side and sell-side firms in an effort to combat abusive high-frequency trading (HFT), says that it is on track to launch in the second half of March. In the run up to that launch, the exchange will be conducting additional industry tests.

“This first industry test went smoothly,” added Nick Thadaney, CEO of ITG Canada, which is one of the firms backing the new exchange. “ITG is excited to be one of the first dealers to participate in a test weekend and we are eager to get going. We will absolutely be ready for launch.”

“We are very thankful to all those who participated in this first industry test weekend,” said Jos Schmitt, president & CEO, Aequitas NEO Exchange. “It allowed us to assess the state of readiness and robustness of our various technology systems and operational procedures, and I am pleased to report that the results were positive.”

Aequitas NEO is a subsidiary of Aequitas Innovations Inc.