- TMX Group (TSX:X) has launched a new stock trading platform in Canada to democratize high-speed trading
- The platform offers two equity order books, one dark and one visible, equipped with innovative dynamic order types
- TMX Group operates global markets and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors
- TMX Group stock (TSX:X) has added 9.25 per cent over the past year and 83.34 per cent since 2018
TMX Group (TSX:X) has launched a new stock trading platform in Canada to democratize high-speed trading.
The platform is composed of two equity order books, Alpha-X and Alpha DRK, which are designed to provide superior execution quality for natural order flow, while limiting adverse selection thanks to “natural speed advantages in the trading ecosystem,” according to Tuesday’s announcement.
Alpha-X is a visible order book with all the order types and trading functionalities available on the TSX Alpha Exchange. It also features the new Smart Limit order type.
Alpha DRK is a fully dark order book with a comprehensive suite of pegged (primary, market, minimum price improvement, midpoint) market and limit order types. Innovative features include the new Smart Peg order type.
Smart Limit and Smart Peg orders allow for the harnessing of market volatility by dynamically adjusting based on real-time market conditions.
“TMX is committed to exploring new ways to meet the needs of clients across our diverse trading ecosystem, and to providing adaptive, responsive solutions to their competitive challenges here in Canada, and around the world,” Rizwan Awan, president of equity trading and head of TMX markets, products and services, said in a statement.
“Alpha-X and Alpha DRK are designed to enable all participants, including institutional clients, to optimize trading strategies and improve their execution quality in fast-moving, modern markets. We are grateful for the feedback and continued partnership of stakeholders in our marketplace as we work to make our markets better today and into the future,” he added.
The expansion news follows a profitable Q3 2023 for TMX Group, with diluted earnings per share up by 7 per cent year-over-year driven by growth in global solutions, insights and analytics. The company increased profits by more than 89 per cent from C$286 million in 2018 to C$542.70 million in 2022.
TMX Group operates global markets and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. The group’s main operations include the Toronto Stock Exchange, the TSX Venture Exchange and the TSX Alpha Exchange.
TMX Group stock (TSX:X) last traded at C$29.17 per share. The stock has added 9.25 per cent over the past year and 83.34 per cent since 2018.
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