TMX Group Inc. is pleased to announce that TMX Select, TMX Group's alternative trading system, is celebrating its first anniversary today.
“We are proud to celebrate this significant milestone,” said Gary Knight, Vice President, Trading, TSX Markets and CEO of TMX Select. “TMX Select offers unique trading features and we're pleased that over the past year our customers have benefitted from the choice our marketplace provides.”
TMX Select offers a range of differentiating features for participants, including extended continuous trading hours from 8:00 a.m. to 5:00 p.m., and strict price/time priority. It also offers alternative pricing, including significant cost savings for liquidity takers, and a symmetrical pricing model that charges liquidity takers and providers equally.
According to the Investment Industry Regulatory Organization of Canada data, TMX Select had average overall market share of 1.4% by volume traded during the first five months of 2012. During the first six months of 2012, TMX Select had average daily volume of 11.4 million shares. On June 14, 2012, 21.8 million shares were traded on TMX Select, close to the all-time record of 25.3 million shares that were traded on March 22, 2012. As of June 30, 2012, TMX Select had 81 subscribers using the market.
Market Open Celebration
This morning at 9:30 a.m., TMX Group employees will join Gary Knight, Vice President, Trading, TSX Markets and CEO of TMX Select, to open trading on Toronto Stock Exchange to honour the occasion.
Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 2 and is produced at the TMX Broadcast Centre and sent live to the TOC. Those featured in the market opening move into position for the market open ceremony at approximately 9:27 a.m. and the markets will open with the sound of a siren (the traditional market open on Toronto Stock Exchange) at 9:30 a.m.
