TMX Group to Provide Smart Order Routing Using Lava ColorBook(R) Technology

    TORONTO, July 16 /CNW/ - TMX Group Inc. and Citi today announced an
agreement to provide Toronto Stock Exchange and TSX Venture Exchange
participating organizations with a smart order routing solution powered by
Citi's Lava ColorBook(R) II technology. This smart order router will execute
orders at various Canadian marketplaces seeking the best available prices.
    ColorBook(R) II will provide customers a low-latency smart router that
aggregates full depth market data feeds and provides a suite of special order
types for accessing liquidity across multiple market centers.
    Tom Kloet, CEO, TMX Group, said: "This agreement underpins our commitment
to providing leading-edge, best execution solutions for our customers. After
an exhaustive search for the right partner and right solution, we are
delighted to work with Citi for the use of its innovative Lava ColorBook(R)
technology. We are looking forward to launching the ColorBook(R) II
intelligent routing technology integrated with the TSX Quantum(TM) platform,
and are confident it will provide our customers with exceptional performance
and a competitive advantage in trade execution."
    By integrating ColorBook(R) II into its service offering, TMX Group is
supporting customers looking to best utilize a multiple marketplace
environment while retaining a centralized price-discovery mechanism through
its smart order router offering. The evolving Canadian market structure
represents tremendous potential for Lava's first launch outside of the United
States and for Toronto Stock Exchange and TSX Venture Exchange to support its
customers in achieving their best execution needs.
    Richard Evans, Head of Global Equities Electronic Execution at Citi,
said: "We are confident that this first international partnership for
ColorBook(R) will provide TMX Group customers with superior execution and
demonstrates the innovative, industrial-strength technology and trading
solutions we are able to provide."
    Canadian smart order routing clients will also have the opportunity to
benefit from additional functionality available on ColorBook(R) II, including
improved access to hidden liquidity, enhanced price improvement opportunities,
expanded algorithmic connectivity, increased execution efficiency and
minimized market impact.
    This integrated platform with Canadian smart order routing functionality
is expected to be introduced in the fourth quarter of 2008.
    To inquire on how to connect to the TSX/ Lava Colorbook router, please
contact your account rep:

    Central Canada              Kevin Sampson              (416) 947-4718
    USA/ International          Stan Grunzeweig            (416) 947-4724
    Canada East/Quebec          Stefan Frirdich            (416) 947-4750
    Canada West                 Lewis Bateman              (416) 947-4475

    About TMX Group (TSX-X)
    TMX Group owns companies that operate markets for multiple asset classes
including equities, derivatives and energy products. From its home base in
Canada, TMX Group reaches internationally as its equity markets list more
resource companies than any other exchange group in the world. TMX Group
provides trading markets, and trading and data products and services to the
global financial community who access Canada's equity capital market. TMX
Group's exchanges are ranked as the 7th largest exchange group in the world
and in 2007, where a record 150 billion of securities volume traded. TMX Group
is headquartered in Toronto and maintains offices in Montreal, Calgary and
Vancouver. For more information on TMX Group, visit our website at

    About Citi and Lava Technology
    Citi, the leading global financial services company, has some 200 million
customer accounts and does business in more than 100 countries, providing
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, and wealth management.
Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith
Barney and Banamex. Additional information may be found at
    Lava Technology is part of Citi's Global Equities business and provides
order- and execution management services, smart order routing and other
trading technology services through a series of branded products and services.

For further information:

For further information: Steve Kee, Director, Corporate Communications,
TMX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)
218-2892,; Stephen Cohen, Citi, (212) 816-5300,

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