Ahead of CSTA: What’s Next for Canadian Broker-Dealer Technology?

As Canadian capital markets continue to evolve, broker-dealers are navigating shifts in market structure, regulation and investor expectations while evaluating how emerging technologies and new trading models could reshape their businesses and the technology they need to adapt.

Ahead of the 2026 CSTA Annual Conference in Whistler, Rishi Bansie, Business Development, Sell-Side Solutions, Canada, and Shane Remolina, Head of Business Development, Sell-Side Solutions, discuss the trends shaping the Canadian market, what broker-dealers are looking for from their technology today, and how firms can position themselves for what comes next.

What market trends are Canadian broker-dealers watching most closely right now?

Rishi: Canadian broker-dealers are dealing with many of the same trends we’re seeing globally: market structure change, regulatory evolution, AI, digital assets, fractional trading, and extended-hours trading. Extended-hours trading is a good example.

Investors are pushing for more access outside the traditional market day. Some of that is coming from international investors who want to trade during their own local hours. Some of it’s coming from the younger generation of investors that expect everything to be available on demand.

You’re already seeing venues like Cboe Canada and CIX move in that direction, and that creates the same kinds of technology questions Canadian firms are facing elsewhere: how do you support market data, routing, compliance, supervision, reporting, operations, and client support?

Shane: And we feel well prepared for that at FlexTrade. We have supported extended and overnight trading workflows for years, including connectivity to overnight venues like Blue Ocean, and our follow-the-sun support model is built for this. So as these trends become more relevant in Canada, we can bring experience from what we’re already doing with clients in other markets.

What are Canadian firms telling you they need from trading technology today?

Rishi: One of the biggest things we hear from Canadian broker-dealers is a desire for greater choice. Canada is a sophisticated market, but firms have historically had a fairly limited set of options when it comes to core trading technology. That can make it harder to innovate quickly or adapt when new industry initiatives emerge.

Many firms are operating on platforms that can handle day-to-day exchange and regulatory updates but may not give them access to the broader modern toolkit, now becoming important across global markets. That includes AI-assisted workflows, advanced analytics, open APIs, interoperability with internal models, automation, and more flexible deployment options.

Shane: This is where the buy-and-build conversation comes in. Firms want to spend their development resources on the areas where they can really differentiate, while working with a vendor that can mesh into their environment and provide the core infrastructure around those proprietary capabilities.

I think FlexTrade has an opportunity to bridge that gap. Leveraging our existing relationships across both the buy side and sell side, we can help bring some of that innovation and optionality to Canadian broker-dealers.

What should firms look for in a technology partner as they modernize?

Rishi: Firms are looking for technology partners that can help them simplify operations across the board. We’re hearing a lot of demand for pricing innovation. They’re looking for partners that understand their economic realities and can offer simpler, more intuitive approaches to pricing. On the other hand, many firms are managing lots of infrastructure, from data centers to the cloud, and are looking for strategies for lessening the infrastructure load.

Shane: It really depends on the firm’s goals and how they run their business. For firms that have built out more of their technology internally, they’re focused on interoperability through FDC3 integrations or APIs that can bring their own models and data directly into the platform to give them real-time analytics and benchmarks at the touch. Others are looking for a more streamlined, end-to-end environment that can simplify the way they operate and help them scale without adding unnecessary complexity.

The common thread here is future-proofing. Nobody can predict the exact timing of every market structure, regulatory, or technology change. But firms can choose platforms that are modular, adaptable, and supported by partners who are willing to take the time to understand their business and guide them through their unique challenges.

FlexTrade has worked with Canadian firms for many years. What’s different about the opportunity in Canada today?

Shane: We’ve been active in Canada for over 20 years, and we’re now taking another important step in expanding our sell-side presence in the market. We’ve completed the Canadianization of FlexOMS and are putting these capabilities to work with Canadian broker-dealers.

From what we’re seeing through our unique global lens across the buy side and sell side, we feel the Canadian market is primed for more choice and more innovation.

Rishi: For us, the focus now is building on the work we have already done in Canada and giving Canadian broker-dealers another option as they think about preparing their trading technology for what’s next.