By sums on Saturday,
TMX Group Receives Regulatory Approval.
The TMX Broadcast Centre is the backdrop used every business day by the media to interview leading figures in the world of finance. TMX Group announced that it has received regulatory approval for its Long Life order type on Toronto Stock Exchange (TSX).
The order type Long Life is designed to improve the quality of execution for natural investors and distributors, rewarding those willing to commit liquidity to the book for a minimum period of time and allowing participants to engage more so effectively and with confidence in the markets without having to compete in speed.
“This development marks the latest in a series of important steps we have taken this year to improve the trading experience for participants and increase efficiencies for our business customers capital,” said Deana Djurdjevic, Senior Vice President, Equities Trading TMX Group about TMX Group Receives Regulatory Approval. “We have received a lot of valuable information about the sort order of the long life of our customers and are thankful and encouraged by their support as we continue to launch new features and initiatives to improve the quality of our markets.”
The introduction of long life TSX order type, which is scheduled for November 16, 2015, is another milestone in a series of initiatives to reshape TMX equities trading landscape in Canada. The launch of innovative trading model previously announced Alpha is on track for launch on 21 September 2015. In June 2015, TMX Group implemented major changes in its trading rates of actions designed to address the longstanding concerns with model maker-taker fee and offer significant benefits to the market.