SOR Automated Jitney provides trading access to all Canadian marketplaces through automatic routing
TORONTO, Dec. 13 /CNW/ - TMX Group today announced that Toronto Stock
Exchange and TSX Venture Exchange now offer Smart Order Router (SOR)
Automated Jitney service to subscribers through its existing Smart
Order Router trading solution.
The SOR Automated Jitney service uses leading-edge routing algorithms to
automatically execute orders at the best price across all Canadian
marketplaces, eliminating the need for multiple marketplace
"We are pleased to offer the SOR Automated Jitney to subscribers," said
Kevan Cowan, President, TSX Markets and Group Head of Equities. "The
solution helps participants battle the costs associated with market
fragmentation, while meeting regulatory best price obligations."
The SOR Automated Jitney allows users to connect to all markets through
one central source. Subscribers who do not have a membership to all
marketplaces can use the membership of a participating SOR Automated
Jitney Provider to execute their orders.
Ted George, Director of Trading, Fidelity Clearing Canada said: "One of
the key challenges our clients face today is to control trading costs
in a multi-market environment. That's why we are pleased to offer the
TSX SOR Automated Jitney solution. This solution allows our clients to
seamlessly access liquidity across all marketplaces and reap the
benefits of competing quotes and structures while limiting the fixed
cost burden associated with individual membership."
David Burnes, EVP, NBCN Inc. said: "There are a lot of costs associated
with finding best execution in a multi-market environment, such as
connectivity, membership, and data costs. That's why we're pleased to
offer the SOR Automated Jitney solution, which allows our clients to
leverage Correspondent Network's trading infrastructure to
automatically jitney to all marketplaces for best execution, reduce
trading execution costs and still meet best-price obligations."
The SOR Automated Jitney provides a low-cost, convenient solution and
provides savings for initiation and set-up fees, monthly usage and
market data connectivity.
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,
Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Equicom
and other TMX Group companies provide trading markets, clearing
facilities, data products and other services to the global financial
community. TMX Group is headquartered in Toronto with offices in
Montreal, Calgary and Vancouver. For more information about TMX Group,
visit our website at www.tmx.com.
SOURCE Toronto Stock Exchange
For further information: For further information:
Director, Corporate Communications