TMX Group Launches New Dark Order Types

Dark order types offer customers additional trade execution choices and valuable liquidity-seeking opportunities

TORONTO, March 16 /CNW/ - TMX Group Inc. today announced that its new on book Dark Order types are now available and integrated into the existing order books on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV). The new non-displayed order types -- Dark Mid-Point and Dark Limit Orders -- interact and trade with both visible and other non-displayed orders.

"TMX Group is pleased to offer our customers additional trade execution choices with these two order types," said Robert Fotheringham, Senior Vice President, Equities Trading. "We are certain that market participants will benefit from the integration of dark liquidity with Canada's most extensive displayed order book." 

In addition to offering market participants an effective facility to minimize market impact costs and anonymously seek liquidity, TMX Group's new Dark Orders will maximize execution opportunities by being continuously exposed to Canada's largest pool of visible orders.  For participants continuing to trade on the TSX/TSXV visible book, the introduction of these new order types provide an opportunity to significantly reduce execution costs, receive price improvement, and benefit from efficiencies in accessing both dark and visible liquidity through a single destination and transaction.

The Dark Order types are initially being offered on a few TSX and TSXV symbols, and will be gradually introduced for all symbols in a phased approach. 

Further enhancements that will provide additional value to participants using TSX/TSXV dark orders types are scheduled for the second quarter of 2011.  More information on Dark Order types can be found on TMX Group's website at www.tmx.com/en/trading/participating/index.html.

About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Shorcan Energy, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (Houston, Boston and Chicago) as well as in London. For more information about TMX Group, visit our website at www.tmx.com.

On February 9, 2011, TMX Group Inc. announced that it had entered into an agreement to merge with London Stock Exchange Group plc.  For more information about the proposed merger, please visit www.tmx.com/merger.

For further information:

Catherine Kee
Manager, Corporate Communications
TMX Group
416-814-8834
catherine.kee@tmx.com