TSX Will Add Third Match to POSIT™ Canada

TSX Markets today announced that commencing April 8, 2003, POSIT Canada will add a third match to be run at 9:50 AM Eastern Time. With the additional match, POSIT Canada will run three call market matches per day at 9:50 AM, 10:30 AM and 2:30 PM Eastern Time. During each match Participating Organizations and institutions send their orders directly to POSIT Canada without having to disclose their pre-trade information. Trades are matched at the mid-point of the bid/ask spread.

"As interest in POSIT Canada continues to grow, the addition of a third match underscores the TSX's continued commitment to serving its clients' needs, adding a concentrated source of liquidity closer to the market open," stated Richard Nesbitt, President of TSX Markets, also noting, "In the intense competition among interlisted markets, the smallest gains are hard-won."

Thomas Kain, Vice President & Director, TD Quantitative Capital agreed, "We are pleased that the TSX is taking this step to further enhance the ability of market participants to trade large blocks of stock anonymously."

POSIT Canada is a facility of TSX Markets using technology licensed from the POSIT Joint Venture, a joint venture between a subsidiary of Investment Technology Group, Inc. (NYSE:ITG) and a subsidiary of Barra, Inc. (Nasdaq:BARZ). POSIT is the world's largest system for electronic matching of equities during the market day.