Jul. 11, 2011 (Canada NewsWire Group) --
Symbols begin trading on Canada's newest ATS
TORONTO, July 11, 2011 /CNW/ - TMX Group Inc. today announced that it has officially launched trading on TMX Select™, its alternative equities trading system. Canada's newest ATS offers participants additional execution and liquidity seeking opportunities through a differentiated marketplace and pricing model. Eight trading symbols were enabled for trading on TMX Select today; the remainder of Toronto Stock Exchange and TSX Venture Exchange symbols will be enabled in a phased approach over the next few weeks.
"TMX Select was created in response to our customers' evolving trading strategies," said Gary Knight, Vice President, Trading, TSX Markets and CEO of TMX Select. "Its benefits to participants are clear - seamless connectivity, unique pricing, expanded trading hours, simplified market structure, and strict price-time priority."
Last month, TMX Select announced its customer-focused pricing model, which extends significant savings to liquidity takers. TMX Select's "symmetrical pricing" model, in which both liquidity seekers and providers are charged the same low fee, is significantly different from the standard maker-taker model currently maintained by Canadian marketplaces.
"Bringing TMX Select to market and introducing an innovative pricing model both reinforce our commitment to being the leader in the Canadian marketplace," added Kevan Cowan, President, TSX Markets and Group Head of Equities.
The pricing schedule and all documentation related to trading on TMX Select, including the TMX Select Subscriber Manual, are available through the TMX Select website at www.tmxselect.com.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Shorcan Energy, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (Houston, Boston and Chicago) as well as in London. For more information about TMX Group, visit our website at www.tmx.com.