Transition to shorter T+2 settlement now underway

New York-based Nasdaq Inc. is rebranding the two alternative trading systems (ATSs) it bought last month in the acquisition of Chi-X Canada.

The exchange firm said Wednesday the two ATSs will begin operating under the names Nasdaq CX and Nasdaq CX2, effective immediately.

Both platforms will be transitioned to its trading technology this year, “to enhance the trading experience for customers through added functionality, operability and resiliency,” Nasdaq says in its announcement.

Nasdaq announced the acquisition of Chi-X back in December 2015 in a bid to expand its equities trading business beyond the U.S. and Europe. The acquisition closed in February.

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