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TSX launches two new trading programs


TSX Markets today announced details of two new trading products: TSXPress and ATX. TSXPress is a series of trading system enhancements intended for optimizing execution speeds for algorithmic traders. In the 2006 phase of TSXPress, TSX plans to introduce a series of dedicated trade processing servers and processes for the most actively traded stocks, which are aimed at further reducing response times by 50%. Work is scheduled for completion during Q3 2006. Subsequent TSXPress enhancements will be designed to result in market-wide improvements in messaging, execution and data feed speed. According to Rik Parkhill, President of TSX Markets, "Today we compete successfully for order flow with North American markets. We expect TSXPress to set a new benchmark for faster trading in North America."

ATX (Alternative Trade eXecution) will be a new high-speed TSX trading facility that matches firm order flow against in-house interest as well as the undeclared interest of other market participants. It will be designed to further reduce the market impact cost of trading and facilitate best execution and risk management, with minimal latency. ATX is an expansion and evolution of the FOX (Firm Order eXecution) application launched successfully by TSX in 2005. Parkhill maintains that ATX will be the most comprehensive solution to customer demand for dark liquidity matching. ATX provides customers of TSX markets synergies within the existing TSX trading book. "It satisfies the changing trading needs of our major clients and it further reinforces our commitment to provide innovative trading solutions to the marketplace. ATX will redefine what an exchange delivers to its participants and will further differentiate TSX from its North American competitors." click here to return to the top of the page
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