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TSX Datalinx today announced it will be launching a consolidated market data feed of pre and post trade data for equity marketplaces in Canada. The Consolidated Data Feed (CDF™) will be independently operated and the feed will be distributed in a common standard format so that market participants and technology intermediaries can easily and quickly integrate the data into their current applications. This TSX Datalinx offering will reduce the time to market and costs of building to multiple feed formats for these stakeholders and will help facilitate best execution and trade through obligations.
“TSX Datalinx has been an aggregator of marketplace content for some time,” said Eric Sinclair, Senior Vice President, TSX Datalinx. “This product brings much of the industry marketplace content together under a single format while still ensuring that all pre and post trade data from each participating marketplace is distributed to the industry”.
TSX Datalinx will pass through all the pre and post trade market data that each participating marketplace produces, including depth of book data, and will apply a common format. TSX will also pass through each individual marketplace’s fees for their respective data. “This is a matter of providing easy data feed packaging to the industry while ensuring all participating marketplaces’ real time data is passed through to the end consumers,” said Mr. Sinclair. “Just as a data vendor would consolidate this data on a terminal display, and pass on the marketplaces’ commercial and contractual obligations, we are doing this on a wholesale feed basis”. The consolidated feed will allow firms and vendors that currently connect to TSX to take advantage of their existing telecommunications lines and feed handling technologies to reduce costs and time to market. “We are very pleased with the positive feedback we have received from the industry so far for our plans to launch the CDF and the business model” says Sinclair.
Some Alternative Trading Systems (ATSs) have also expressed their early support for the initiative. “The market needs a consolidated data feed”, says Douglas Steiner, Chairman and CEO of Perimeter Financial Corp. “We support TSX Datalinx in their efforts and look forward to the successful implementation of the CDF for Omega and BlockBook ATS data feeds”. Tal Cohen, SVP of Instinet Canada says “We recognize that the proliferation of market centers like ours will require participants to review their best execution criteria, so by disseminating our data through a recognized provider we hope to make this process as seamless as possible".
The CDF will be launched in Q1 of 2008. TSX Datalinx will continue to work with market participants, intermediaries, and marketplaces to finalize the details. Information on launch date and specifications on format will be provided shortly.
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, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income interdealer
broker. 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, and TSX Technologies. TSX Group is headquartered in
Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.
