21 August 2017
visit www.avoka.com

TMX plans new ATS

04 October 2010  |  3128 views  |  0 Source: TMX

TMX Group today announced that it has submitted regulatory filings to create a new alternative trading system (ATS).

TMX Select, which is a wholly-owned subsidiary of TMX Group, will offer a visible marketplace for trading equity securities. The new trading system will operate on TMX Group's high-performance TSX Quantum trading platform, with functionality and pricing models separate and distinct from Toronto Stock Exchange and TSX Venture Exchange.

"TMX Select will provide multiple benefits to market participants, including a new source of liquidity, innovative pricing and the leading technology in Canada," said Kevan Cowan, President TSX Markets and Group Head of Equities. "And because clients will be able to access this new order book using their existing TSX connectivity, TMX Select will provide all of these benefits with minimal cost and effort."

In addition to seamless connectivity for existing clients and competitive pricing, key TMX Select market features include: expanded trading hours, providing additional opportunities to execute trades; a simplified market structure with continuous trading of board lots only and no special terms; and strict price-time priority for visible orders.

"TMX Select is being created with a nimble market structure to allow for aggressive innovation designed to meet rapidly-evolving client needs," added Cowan.

TMX Group's commitment to marketplace transparency will continue with its new ATS. As it has long advocated for all ATSs, the complete Trading Policy Manual, including all trading rules and order feature details, will be made available for public comment prior to the launch of TMX Select, which is expected to occur in Q2 2011. More information about pricing and functionality will also be communicated to market participants in the coming months.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.euvisit www.vasco.com

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11347 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9558 views comments | 22 tweets | 29 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9425 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9172 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9091 views comments | 10 tweets | 8 linkedin