Scotiabank Launches Next-Gen Algorithmic Trading Platform with BestEx Research

Leading algorithmic trading platform designed with BestEx Research
exclusively for the Canadian equities market

Scotiabank celebrates launch by ringing the Opening Bell at the Toronto Stock Exchange

TORONTO, Oct. 6, 2022 /CNW/ - Scotiabank today celebrated the launch of its next generation algorithmic trading platform in Canada by ringing the Opening Bell at the Toronto Stock Exchange. The new platform is made available to clients through a strategic agreement with BestEx Research and features state-of-the-art technology designed specifically to serve the unique needs of the Canadian equities market. The launch of this platform with Scotiabank in Canada marks a step forward in BestEx Research's global expansion.

"Over the last two years, we have worked with BestEx Research to provide our clients with market-leading algorithmic execution quality in the U.S." said Pruyn Haskins, Global Head of Equities at Scotiabank. "We are thrilled to work with BestEx Research again - combining their unique pricing models and our Canadian market structure expertise - to provide Scotiabank clients with a leading algorithmic platform for the Canadian marketplace."

Scotiabank's state-of-the-art platform provides institutional investors with a single-ticket order experience across the Americas. The new Canadian offering is based on research-driven logic to significantly reduce costs and offers top tier trading performance for clients.

"Many algorithmic trading solutions offered in Canada are adapted from algorithms originally designed for U.S. markets," said Hitesh Mittal, Founder and CEO of BestEx Research. "Through our collaboration with Scotiabank, traders can access our innovative execution algorithms, developed from the ground up and tailored for the unique structure of the Canadian market. This offering marks another step forward in our mission to deliver customizable, high-performing solutions for our buy-side and sell-side clients trading equities, futures, and foreign exchange globally."

For more information about the platform or Scotiabank's suite of electronic trading products, ScotiaRED, please visit: www.gbm.scotiabank.com/scotiared.

ScotiaRED - Responsive. Efficient. Dynamic.

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.3 trillion (as at July 31, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

BestEx Research Group, LLC was founded in 2017 by a team of industry experts in systematic trading. BestEx Research is creating a new category of innovative, broker-neutral solutions with their Algorithm Management System (AMS), combining sophisticated execution algorithms with a user-friendly dashboard and transaction cost analysis for multiple asset classes. The cloud-based platform is the first independent algorithmic trading solution for equities, futures, and foreign exchange in all markets. BestEx Research algorithms are reducing trading costs for buy-side managers and providing sell-side firms a seamless trading solution for their clients. For more information on BestEx Research's mission and products, or to request a product demo, please visit www.bestexresearch.com. Please follow BestEx Research on LinkedIn and Twitter.

SOURCE Scotiabank