TSX benchmarks equities trading engine

Source: TSX Group

Speed of order matching measured in microseconds combined with near perfect system availability are two of the exciting results of recent benchmark laboratory testing on TSX Group's new equities trading engine, code-named "TSX Leapfrog", which is scheduled for a phased rollout beginning in Q4 2007.

In December 2006, a team of 16 TSX professionals were in the U.S. for testing on the new engine and came away with impressive test results.

TSX Leapfrog is designed to be a state-of-the-art platform with world-class messaging capabilities and linearly scalable throughput with response times in the single digit millisecond range. It is expected to have trade matching capability in microseconds and full round-trip response times comparable to, or better than, any equities exchange group in the world. TSX Group CEO Richard Nesbitt said, "We have developed TSX Leapfrog software to compete head to head with the biggest markets in the world."

Here are the results of the benchmark laboratory tests for TSX Leapfrog:
  • Capacity tested to over 320 million order messages an hour (or approximately 2 billion order messages per trading day) and proven to be linearly scalable; - Throughput tested to over 100,000 messages per second and proven to be linearly scalable;
  • Order matching in microseconds (less than one millisecond);
  • Response time in the low single digit millisecond range; and
  • Capability of full system fail-over in seconds with no lost messages.

    TSX Markets President Rik Parkhill said, "This new engine has been in development by TSX Technologies since January 2005 and it builds on our long history of providing leadership in high-technology trading to all customers that use our markets." He added, "Our technology enhancements announced over the last twelve months are aimed at providing best-of-class solutions to all Canadian capital market participants."

    Development of the new engine is in addition to a series of enhancements announced in 2006. While work was underway on TSX Leapfrog, TSX successfully completed much of the work on TSXPressTM -- an innovative series of enhancements on the current trading system aimed at optimizing execution speeds for algorithmic traders.
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