TMX Group announced today the completion of its successful launch of its smart order routing solution for Toronto Stock Exchange and TSX Venture Exchange Participating Organizations.
The first phase of the launch was completed on December 15, 2008 when the router was made available for order entry through the FIX (Financial Information eXchange) protocol. The TMX Smart Order Router is now also available in STAMP (Securities Trading Access Message Protocol).
The TMX Smart Order Router provides subscribers with trading access to all visible Canadian marketplaces trading Toronto Stock Exchange and TSX Venture Exchange listed securities. The TMX solution benefits customers by residing next to Canada's largest liquidity pool and by offering advanced routing features to help market participants operate more efficiently and cost effectively in a multiple marketplace environment.
"The TMX integrated smart router solution demonstrates our continued commitment to meeting our customers' and the trading industry's needs," said Kevan Cowan, Group Head of Equities, TMX. "With its enhanced routing technology and feature set, the TMX Smart Order Router not only provides customers with a superior solution to meet their regulatory best price obligations, it also assists them in achieving best execution."