- TMX Group (TSX:X) has launched AlphaX US, a new alternative trading system (ATS) designed to enhance execution quality for U.S.-listed securities
- This marks TMX Group’s first venue expansion outside of Canada, signalling a significant step in its markets division’s growth strategy
- The venue aims to provide a competitive trading environment amidst a market with over two dozen alternative trading options
- TMX Group stock (TSX:X) last traded at C$45.25
TMX Group (TSX:X) has launched AlphaX US, a new alternative trading system (ATS) designed to enhance execution quality for U.S.-listed securities.
This marks TMX Group’s first venue expansion outside of Canada, signalling a significant step in its markets division’s growth strategy.
AlphaX US will exclusively trade securities listed under Regulation NMS, including common stocks, exchange-traded funds (ETFs), and American depository receipts (ADRs). The venue aims to provide a competitive trading environment amidst a market with over two dozen alternative trading options.
Participants in AlphaX US will be FINRA-registered broker-dealers, ensuring a regulated and compliant trading ecosystem. The ATS will operate according to the U.S. equity market holiday calendar and will match trades during regular U.S. market hours. AlphaX US also allows order entry starting 60 minutes before the market opens and continues throughout the trading day.
The plans for AlphaX US were initially announced during TMX Group’s Q4 earnings call last year. With this launch, TMX Group is poised to offer enhanced trading solutions and expand its footprint in the U.S. financial markets.
“There are several unique offerings within AlphaX US, and we have combined that functionality with a model that provides easy implementation, customization, and strong analytics for our partners,” Heidi Fischer, TSX Alpha US president said in a media release. “It’s through feedback and collaboration with our stakeholders that we are able to deliver solutions that make markets better.”
TMX Group operates global markets and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. Its key subsidiaries include Toronto Stock Exchange, TSX Venture Exchange and Montreal Exchange.
TMX Group stock (TSX:X) last traded at C$45.25 and has risen 32.70 per cent since this time last year.
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(Top image via TMX)