TMX Select to open trading on Toronto Stock Exchange today
TORONTO, July 11, 2012 /CNW/ - TMX Group Inc. is pleased to announce
that TMX Select, TMX Group's alternative trading system, is celebrating
its first anniversary today.
"We are proud to celebrate this significant milestone," said Gary
Knight, Vice President, Trading, TSX Markets and CEO of TMX Select.
"TMX Select offers unique trading features and we're pleased that over
the past year our customers have benefitted from the choice our
TMX Select offers a range of differentiating features for participants,
including extended continuous trading hours from 8:00 a.m. to 5:00
p.m., and strict price/time priority. It also offers alternative
pricing, including significant cost savings for liquidity takers, and a
symmetrical pricing model that charges liquidity takers and providers
According to the Investment Industry Regulatory Organization of Canada
data, TMX Select had average overall market share of 1.4% by volume
traded during the first five months of 2012. During the first six
months of 2012, TMX Select had average daily volume of 11.4 million
shares. On June 14, 2012, 21.8 million shares were traded on TMX
Select, close to the all-time record of 25.3 million shares that were
traded on March 22, 2012. As of June 30, 2012, TMX Select had 81
subscribers using the market.
Market Open Celebration
This morning at 9:30 a.m., TMX Group employees will join Gary Knight,
Vice President, Trading, TSX Markets and CEO of TMX Select, to open
trading on Toronto Stock Exchange to honour the occasion.
Media may pick up a feed from the TOC (television operations centre) for
all market open ceremonies. The feed is named TSX Transmit 2 and is
produced at the TMX Broadcast Centre and sent live to the TOC. Those
featured in the market opening move into position for the market open
ceremony at approximately 9:27 a.m. and the markets will open with the
sound of a siren (the traditional market open on Toronto Stock
Exchange) at 9:30 a.m.
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, TMX Select, Montreal
Exchange, Canadian Derivatives Clearing Corporation, Natural Gas
Exchange, Boston Options Exchange (BOX), Shorcan, Shorcan Energy
Brokers, 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 (New York, Houston, Boston and Chicago)
as well as in London, Beijing and Sydney. For more information about
TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE TMX Group Inc.
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