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
"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
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.
SOURCE TSX Group Inc.
For further information:
Manager, Corporate Communications