Alpha-X™ and Alpha DRK™ provide
democratized speed and improved performance
TORONTO, Nov. 7, 2023
/CNW/ - TMX Group today announced the launch of an innovative
new Canadian trading platform consisting of two order books,
Alpha-X™ and Alpha DRK™, designed to create an optimized trading
environment to enhance execution quality.
These two new equities order books aim to provide high-quality
execution for natural order flow, limit adverse selection resulting
from natural speed advantages in the trading ecosystem, and improve
the overall trading experience for all participants.
"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,"
said Rizwan Awan, President of
Equity Trading & Head of TMX Markets, Products and Services.
"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."
Highlights
Alpha-X is a visible order book that has all of the same order
types and trading functionalities currently available on TSX Alpha
Exchange, and 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, and has the new Smart Peg™ order
type.
Smart Limit™ and Smart Peg™ are innovative new order types
designed to help clients navigate fast moving markets and optimize
their trade execution by dynamically adjusting their orders based
on real-time market conditions.
For more information about Alpha-X and Alpha DRK, please visit:
tsx.com/trading/alpha-x.
About TMX Group (TSX:X)
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's key operations include Toronto Stock Exchange, TSX
Venture Exchange, TSX Alpha Exchange, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, and Trayport which provide listing markets,
trading markets, clearing facilities, depository services,
technology solutions, data products and other services to the
global financial community. TMX Group is headquartered in
Toronto and operates offices
across North America (Montréal,
Calgary, Vancouver and New
York), as well as in key international markets including
London, Singapore and Vienna. For more information about TMX Group,
visit our website at www.tmx.com. Follow TMX Group on Twitter:
@TMXGroup.
SOURCE TMX Group Limited