Independent agency brokerage Oddo & Cie has rolled out an algorithmic trading infrastructure platform from Chi-Tech, the technology services unit recently formed by Chi-X.
Oddo & Cie has deployed MarketPrizm, an ASP-based algo trading infrastructure designed to help brokerage firms trade effectively and cost-efficiently in European markets.
The vendor says its system provides inbound market data for the firm's selected markets, while Quod Financial, with whom Chi-Tech partnered on the deployment, delivers direct market access and smart order routing functionality.
Chi-Tech will also provide ongoing maintenance and operations support.
Tarak Achiche, COO, Oddo & Cie, says the firm chose MarketPrizm because "it enables us to efficiently and affordably manage our algo trading processes while helping our clients meet their best execution requirements".
Chi-Tech was formed following Chi-X's acquisition in November of dealing technology outfit Cicada, which developed MarketPrizm.