TSE Experiences Trade Confirmation Delays

Some member firms faced delays today getting information on the status of their trades and confirmations. The slowdown experienced by TSE trading customers who receive their information via the Toronto Broadcast Feed (TBF), was created by unprecedented volume at the market open. This delay in information disemmination did not impact trading. In fact, trades during the market opening at the TSE were executed at record speed: 12,500 in the first 2:33 of trading-an average of 81 trades per second. Post trade confirmation delays are being attributed to several factors including: unprecedented trading; Expiry; transfer of trading data and messaging to member firms. The Toronto Broadcast Feed was up to date as of 9:59am. TSE trading activity has increased dramatically in 2000. On average, the TSE is processing 160,000 trades each day. Yesterday there were a record 201,000 trades recorded. During the same trading period a year ago, there were 60,000 TSE trades each day. The TSE is aware of the performance issue of the TBF. Resolving this issue is a priority for the Exchange. The fully automated Toronto Stock Exchange consistently ranks among the world's top exchanges by market capitalization and trading volume. In 1999, the average daily value of TSE trading has exceeded $2 billion. The TSE provides investors with a well-regulated, fair and accessible marketplace.