TMX Group Launches New Canadian Trading Platform
TMX Group, which is a Canadian exchange operator and infrastructure provider, is planning to launch a new trading platform in its home market. This move is a significant step towards achieving the company’s goal of becoming a leading global marketplace.
TMX Group Launches New Canadian Trading Platform – What Are They?
In November, TMX Group unveiled its latest offering—a new Canadian trading platform featuring two distinct order books, Alpha-X and Alpha DRK. TMX’s platforms are crucial for its Canadian market share and global expansion plans.
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Features of the Alpha X and Alpha DRK
Two Order Books
Alpha-X and Alpha DRK provide distinct order books for a versatile trading experience.
Alpha-X (Visible Order Book)
Alpha-X’s Smart Limit order type is a new and innovative feature that offers a full range of trading functionalities similar to those on the TSX Alpha Exchange. The Smart Limit order has a real-time decay signal that can predict potential price decay. Furthermore, speed bumps are intentionally introduced to introduce latency and protect against adverse selection.
Alpha DRK (Fully Dark Order Book)
The platform offers a suite of pegged market and limit order types, providing a range of options for traders. Smart Peg optimizes transaction prices within the spread and provides better trade control.
Additionally, the platform provides a fully dark environment for those looking for a different trading experience. The platform offers traders diverse features to fit their trading styles.
Execution Quality Focus
The platforms prioritize execution quality and limit adverse selection in trading.
Zero Commission Policy
Users can trade without additional fees beyond the market spread, aligning with TMX Group’s commitment to provide cost-effective trading.
No Limits Trading
The platform offers commission-free positions with no limits, allowing users to trade without restrictions. This enables users to trade without constraints and benefit from a seamless trading experience.
Access to Buy Fractional Shares
It allows users to purchase fractional shares for greater accessibility and inclusivity.
Client-Centric Speed Bumps
Speed bumps can prevent unfair advantages in trading, leading to a better experience for all participants.
Smart Limit and Smart Peg Order Types
Innovative order types utilize real-time market signals and optimization algorithms, proactively predicting and adjusting to market dynamics for smarter trading decisions.
About TMX Group
TMX Group is a global retail broker and infrastructure provider headquartered in Canada. TMX Group offers a wide range of trading instruments, including stocks, cryptocurrencies, and contracts for differences.
Looking Ahead
The launch of the new Canadian trading platform is a significant milestone for TMX Group. It reinforces the company’s commitment to execution quality and positions TMX Group to compete globally. TMX Group’s innovative features position it for success in a financial landscape where traders demand efficiency and advanced workflows.
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