Back to all announcements

TSX Technology Announce Next Generation Trading Platform and Smart Order Router

TORONTO, May 31 /CNW/ - TSX Markets President Rik Parkhill today
announced details of two significant TSX Group trading enhancements: the next
generation trading engine and a smart order router. He made his comments at
the FPL Canadian Electronic Trading Conference in Toronto.

Parkhill said, "Global interest in TSX is increasing, as energy and
mining and small caps issues drive TSX to outperform most major international
markets." He went on to say that, "TSX has a long tradition of leadership in
high-technology trading and a record of success in anticipating the demands of
marketplace participants. TSX will compete aggressively for the benefit of the
Canadian capital market."

Scheduled for delivery in 2007, the next generation TSX trading engine
will be designed to be a state-of-the-art platform, with leading messaging
capabilities, able to meet the ever-changing needs of the marketplace and
response times in the single digit millisecond range, equal to, or better
than, any exchange group in the world.

Parkhill added, "Our marketplace embraces new forms of trading modalities
and we are quick to add market features that make it easier and less costly to
trade. TSX is committed to providing best-of-class solutions to compete
effectively with exchanges anywhere."

In addition to the new engine, TSX unveiled plans for a smart order
router. When delivered, this router will help domestic and international
clients meet best execution obligations and will eventually be used for
multi-asset trades including derivatives.

In addition to announcing revisions to our trading fee model for market
participants using TSX facilities, earlier this year TSX announced
TSXPress(TM) - an innovative series of trading system enhancements aimed at
optimizing execution speeds for algorithmic traders on its current platform.
Also announced this year was ATX (Alternative Trade eXecution) a new high-
speed TSX trading facility that will match firm order flow against in-house
interest as well as the undeclared interest of other market participants and
is slated to be released at the end of the year. TSX also announced this
spring that the Financial Information eXchange (FIX) gateway is in production
and the testing and certification process for Participating Organizations has
begun.