Tuesday September 22 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: Canada
TMX Group has announced the successful launch of an innovative new trading model on TSX Alpha Exchange (“Alpha”), designed to improve execution quality for natural investors and reduce dealer costs.
Alpha`s new features, which received Ontario Securities Commission approval in April, include a minimum size threshold for liquidity-providing orders, competitive pricing for active flow and a short order processing delay (speed bump). In addition to these changes, Alpha was migrated to TMX Group`s high performance equity trading engine, TMX Quantum XA™. The opening auction on Alpha has been eliminated and Alpha`s IntraSpread facility and TMX Select have now ceased operation. All changes came into effect at the open of the markets on 21st September 2015.
In October, 2014, TMX Group announced it was restructuring its equities trading offering in an effort to retain Canadian order flow, empower natural investors and other non-latency sensitive participants to trade with confidence and to reduce market complexity. The next step in this series of targeted changes is the introduction of TSX`s Long Life order type, which is scheduled for November 16, 2015.
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