TMX Group has officially launched trading on TMX Select, its alternative equities trading system.
TMX Group said that the Canada’s newest ATS will offer participants additional execution and liquidity seeking opportunities through a differentiated marketplace and pricing model.
Eight trading symbols were enabled for trading on TMX Select; the remainders of Toronto Stock Exchange and TSX Venture Exchange symbols are expected to be enabled in a phased approach over the next few weeks.
Gary Knight, vice president of trading at TSX Markets and CEO of TMX Select, said TMX Select was created in response to their customers’ evolving trading strategies.
"Its benefits to participants are clear – seamless connectivity, unique pricing, expanded trading hours, simplified market structure, and strict price-time priority," Knight claims.
Last month, TMX Select announced its customer-focused pricing model, which extends significant savings to liquidity takers.