TSX provides direct access to Posit Canada
26 July 2002 | 2974 views | 0
Toronto Stock Exchange (TSX) is to offer traders direct access from their desktop terminals to Posit Canada in an effort to increase order flow through its anonymous, electronic trade matching system.
Since TSX launched the trade matching facility in April this year, access to Posit Canada has been provided through a Web-based interface.
Richard Nesbitt, president of TSX Markets, says: "Direct access will simplify the process for traders to enter orders into the Posit Canada call market. Posit will now be integrated directly into the trader's desktop and will be part of their workflow environment."
Posit Canada offers two call market matches per day, one at 10:30 a.m. and the other at 2:30 p.m. eastern time. During each match participating organisations and institutions send their orders directly to Posit Canada without having to disclose any trade information, and trades are matched at the mid-point of the bid/ask spread.
Posit Canada is averaging over $15 million per match comprising over 880,000 shares. "Now that Posit Canada will be a destination on the trader's desktop, we anticipate increased order flow from both buy and sell side traders," says Nesbitt.