TSX Markets has released two new trading products titled TSXPress and ATX. Both are aimed at further enhancing its position in the North American marketplace.
TSXPress is a series of trading system enhancements aimed at optimizing execution speeds for algorithmic traders. In the 2006 phase of TSXPress, TSX plans to introduce a series of dedicated trade processing servers and processes for the most actively traded stocks, which are aimed at further reducing response times by 50%. Work is scheduled for completion during the third quarter of 2006.
ATX will be a new high-speed TSX trading facility that matches firm order flow against in-house interest as well as the undeclared interest of other market participants. It will be designed to further reduce the market impact cost of trading and facilitate best execution and risk management, with minimal latency.
TSX Markets president Rik Parkhill, said, We are creating a marketplace that embraces new forms of trading modalities, with new market features that make it easier and less costly to trade. There are challenges for market participants and we are committed to providing the marketplace with best of class solutions to compete effectively with exchanges across North America.