Trading

TMX facilitates fully electronic trading on Canada's premier equities Exchanges, Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), and TSX Alpha Exchange (TSXA). We offer efficient, fair and transparent stock market trading services that provide choice and flexibility to meet the unique needs of traders and investors around the world. TMX equities marketplaces are supported by our proprietary high performance trading system, TMX Quantum XATM, and are designed to enhance the liquidity of securities traded on them.

Through TMX Equity Markets' leading-edge technology, infrastructure, and services, market participants can execute their trading strategies on our marketplaces – efficiently and in real time – from major trading centres around the world. Considering the opportunities to be found in our world-class trading environment, it is no wonder that an estimated 40% of all trading on TSX and TSXV originates from outside Canada.

From clean technology in North America to oil and gas in Africa and the Middle East to mining in Australia, you can find it traded on TSX, TSXV and TSXA. With technological sophistication, strong business, governance and regulatory models, and a diverse stock list, TMX equities markets provide investors and traders with efficient access to liquidity, quality execution, and a broad spectrum of investment opportunities. The TMX trading environment continues to set new standards as a North American leader positioned at the forefront of global marketplaces.

FeaturesTSX/TSXVTSXA
Extended continuous trading hours (8am-5pm ET)
*
Strict price/time priority (No broker preferencing)
*
Alternative pricing (inverted model)
*
TSX and TSXV-listed securities
*
*No debentures, warrants, rights
CDS Clearing & Give-Up
*
*
Iceberg orders
*
*
Anonymous orders
*
*
Advanced order Types & Features* (Post Only, Self Trade Prevention)
*
*
Active order processing delay
*
OPR Capability
*
*
Level 1, Level 2 and Broadcast Feeds
*
*
Auto execution for odd lots
*
*
Special Terms orders
*
Dark Trading Facilities
*
Market on Open
*
Market on Close
*
Market Makers & Minimum Guaranteed Fills for Retail orders
*

* Order type functionality may vary between each trading venue. Please refer to the order types page of each trading venue for more detail.

Electronic central limit order book

At the core of TMX Equity Markets trading is a computer-based central limit order book. Toronto Stock Exchange was the first exchange in the world to computerize stock market trading and become a fully electronic stock exchange in 1997. TMX Equity Markets continues to be a global leader in stock market trading speed and reliability with the launch of our TMX Quantum XA™ trading engine.

A fair, fast, transparent market

Through a transparent, electronic auction, our trading facilities allow traders to see what interest exists and how prices are calculated. Transparency and fairness are paramount in all that we do, which is why more and more international traders are trading with TMX Equity Markets every day.

Start trading on our markets today or contact a TMX Equity Markets Account Manager.

v x