Explore TMX Group’s Alpha-X—a cutting-edge trading platform designed for superior execution and an enhanced overall trading experience in Canada.
The Canadian financial services company TMX Group, which runs exchanges for energy, fixed income, equities, and derivatives, has introduced a new Canadian trading platform called Alpha-X and Alpha DRK, with an emphasis on an optimised trading environment.
The goal of these two new TMX order books for equities is to offer superior execution for organic order flow. They also prevent adverse selection that arises in the trading environment from inherent speed advantages. They also enhance each participant’s overall trading experience.
The new Smart Limit order type is accessible on Alpha-X, a visible order book that includes all of the same order types and trading features as the TSX Alpha Exchange.
With a full range of pegged market and limit order types (main, market, minimum price improvement, and midpoint) available, Alpha DRK is a fully dark order book. The new Smart Peg order type is also included.
By dynamically modifying their orders in response to current market conditions, Smart Limit and Smart Peg are two cutting-edge new order types that are intended to assist clients in navigating rapidly changing markets and maximising trade execution.
President of equity trading and head of TMX markets, products, and services Rizwan Awan stated, “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.”
“The purpose of Alpha-X and Alpha DRK is to maximise trading techniques for all users, including institutional clients. They can also raise the quality of their implementation in contemporary, quick-moving markets. As we strive to improve our markets both now and in the future, we appreciate the input and ongoing cooperation of our stakeholders.
