The FIX gateway will allow customers to route orders to the TSX using the global connectivity standard and is the latest initiative resulting from TSX Group’s trading strategy. The strategy includes offering best-in-class technology solutions, innovative new product initiatives and a competitive pricing model that encourages increased trading and order flow.
Overall market activity has continued to increase with volumes traded on Toronto Stock Exchange up 32% and transactions up 66% in Q1, 2006 as compared with Q1, 2005.
TSX Group continues to invest in technology. Recent investments have included two hardware upgrades and two software performance releases in 2005. From a product perspective, in addition to FIX, TSX Group recently announced two other new products that will continue to evolve how trading occurs in the Canadian markets. These products include, TSXPress™, an innovative series of trading system enhancements aimed at optimizing execution speeds for algorithmic traders, and ATX™, a new high-speed TSX trading facility designed to match firm order flow against in-house interest as well as the undeclared interest of other market participants.
As announced last July, TSX Group made changes to the pricing structure for trading on Toronto Stock Exchange effective October 2005 and January 2006, including the introduction of a volume based model for issuers that are interlisted on Toronto Stock Exchange and either NASDAQ or AMEX. These changes have resulted in overall price reductions for customers. The objective of these changes is to ensure that TSX Group maintains a competitive fee model that will attract order flow and continue to grow the number of transactions that are executed on Toronto Stock Exchange. TSX Group continues to monitor the impact of the pricing changes that were implemented. Any further changes to the pricing structure will be announced when decisions are made to implement such changes.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving
the public venture equity market as well as Natural Gas Exchange (NGX), a
leading North American exchange for the trading and clearing of natural gas and
electricity contracts. TSX are the initials attached to the core equity
operations of TSX Group (www.tsx.com): Toronto Stock Exchange, TSX Venture
Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is
headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary
and Vancouver.
