TMX Group Inc. today announced that its dark order types have reached a volume milestone within the first week of enabling the full list of Toronto Stock Exchange (TSX) and TSX Venture (TSXV) listed securities. The dark order types, which include the Dark Mid-Point and the Dark Limit order types, achieved a daily peak trading volume of over 3.3 million shares and averaged over 2 million shares traded per day. 24 participating organizations (POs) are posting dark orders and have executed against orders from over 85 POs that are currently receiving price improvement and reduced execution costs by trading with TSX and TSXV dark liquidity.
“We’re excited to see that in the first week of enabling all TSX and TSXV listed securities fordark trading we have already reached this level of volume,” said Robert Fotheringham, Senior Vice President, Equities Trading, TMX Group. “A wide range of market participants are clearly responding positively to our dark orders and to the fact that they are constantly exposed to and interacting with the robust liquidity streaming through the TSX and TSXV displayed order books.”
TMX Group dark order types were introduced in March 2011 with a phased launch that concluded on June 6, 2011, when all equity symbols were enabled. The TMX integrated model maximizes execution opportunities and reduces costs for all participants, including retail investors, fund managers and liquidity providers.
More information on dark order types can be found on TMX Group’s website at www.tmx.com/en/trading/participating/index.html.