TMX Group, the operator of the Toronto Stock Exchange, revealed the launch of AlphaX US this week. The product is a new US Alternative Trading System (ATS) venue focused on enhancing execution quality for US-listed securities.
TMX Group Launches New ATS Venue AlphaX US
It marks the Toronto-based company’s markets division’s first venture outside Canada, as it aims to expand its reach in global markets.
AlphaX US is designed for trading Regulation NMS common stocks, exchange-traded funds, and American depositary receipts.
Open to FINRA-registered broker-dealers, the platform is said to provide a range of innovative features aimed at improving execution performance and offering ease of implementation and strong analytics. Trading operates during regular US market hours, with order entry allowed 60 minutes before the opening.
Heidi Fischer, President of TSX Alpha US, said: “There are several unique offerings within AlphaX US, and we have combined that functionality with a model that provides easy implementation, customization, and strong analytics for our partners. It’s through feedback and collaboration with our stakeholders that we are able to deliver solutions that make markets better.”
The initiative represents a strategic milestone for TMX Group’s Markets division as it seeks to address client demands and grow its international presence.
“One of our top priorities is solving for the business needs of our clients,” said Luc Fortin, TMX Group’s Global Head of Trading. “We are excited to embark on this next chapter of growth for TMX.”
