Toronto Stock Exchange operator TMX launches AlphaX for US Equities
TMX Group has announced the launch of AlphaX US, a new US Alternative Trading System (ATS) venue, that is designed to create a trading environment with a focus on enhanced execution quality.
AlphaX US is the first venue expansion outside of Canada for TMX Group’s Markets division and it will trade US-listed securities only (Reg NMS). Participants will be FINRA-registered broker dealers.
Heidi Fischer, President, TSX Alpha US said,
“After continuous consultation with our clients, we are proud to introduce AlphaX US, a venue that is focused on execution performance, and provides innovation and ease to the broker dealer community. There are several unique offerings within AlphaX US, and we have combined that functionality with a model that provides easy implementation, customization, and strong analytics for our partners. It’s through feedback and collaboration with our stakeholders that we are able to deliver solutions that make markets better.”
Luc Fortin, Global Head of Trading, TMX Group added,
“One of our top priorities is solving for the business needs of our clients. We are excited to embark on this next chapter of growth for TMX to build upon.”
AlphaX US offers trading in all Regulation NMS common stock, exchange-traded funds and American depository receipts. The venue follows the US equity market holiday calendar, and matches trades during regular US market hours. AlphaX US allows order entry starting 60 minutes prior to the open and continuing throughout the trading day.
About TMX Group
TMX Group (TSE:X) operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. The Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport and TMX VettaFi, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna.