Wednesday April 22 2015
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
Country: Canada
TMX Group has announced that it has received Ontario Securities Commission approval for changes to its TSX Alpha Exchange (“Alpha”) trading model. The changes are key elements of TMX Group`s recently announced proposal to reposition its equities trading platforms to meet evolving customer needs and strengthen Canada`s capital markets.
Set to launch in September 2015, Alpha`s new trading model is designed to deliver superior execution quality for natural investors and reduce trading costs for retail and institutional dealers. Alpha features will include a minimum size threshold for liquidity-providing orders, competitive pricing for active flow and a short order processing delay (speed bump). In addition, in response to feedback received from customers through the public comment process for the proposed changes, Alpha will operate as an unprotected market under the Order Protection Rule (OPR).
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