TMX Group today announced that it will be providing its equity trading clients with a comprehensive pre-trade risk solution.
The TMX Pre-trade Risk Management Solution will provide clients with the seamless connectivity and technology needed for high performance pre-trade risk-filtered access to all Canadian equity marketplaces.
"We are offering a low latency and functionally rich solution to assist participants in managing the risks associated with electronic trading and to help comply with the upcoming regulatory and financial risk management obligations mandated by regulators," said Robert Fotheringham, Senior Vice President, Trading. "Our flexible solution also enables participants to leverage the economies of scale of an exchange-hosted solution to manage order flow, market access, and risk across the whole market."
By utilizing the TMX fully managed hosted service, participants can avoid the significant time, costs, and resourcing associated with implementing and supporting its pre-trade risk management technology. The hosted solution is fully customizable at the firm, trader, and client levels with various options on access authority. TMX's hosted service allows brokers to offer their clients sponsored access with real-time risk controls, while maintaining a comprehensive view of their clients' risk profiles.
Mantara, the service provider of the TMX Pre-trade Risk Management Solution, provides advanced ultra-low latency trading and risk solutions to the global trading community. Its comprehensive pre-, at- and post-trade risk functionality is being used by leading buy and sell-side organizations and exchanges to meet immediate and anticipated regulatory compliance.
"We are privileged that Mantara's technology has been chosen as the foundation for TMX Group's risk offering," said Michael Chin, CEO and President, Mantara. "Our selection serves as further validation that our advanced risk technology meets the ultra-low latency requirements and rigorous demands of exchanges as they provide their clients with the best-of-market solutions."