Automated Jitney

Automatically Jitney Your Order through the TSX SOR

The TSX Smart Order Router offers Automated Jitney - a service that utilizes leading-edge routing algorithms to execute your orders at the best price across all Canadian markets, without subscribers having to join all marketplaces. This service automatically gives-up your trade directly to your jitney provider if the best price is available on a marketplace where you are not a subscriber.

SOR Chart

Key Benefits

  • Complete and efficient market access without managing multiple marketplace relationships
  • Reduce costs associated with maintaining direct relationships across all Canadian marketplaces
  • Best-price compliant with IIROC and CSA policies
  • Turn-key solution to accessing all protected Canadian marketplaces, with one standardized agreement, one marketplace subscription/membership and one access point

Automated Jitney provides all the benefits of the TSX Smart Order Router plus the opportunity for further cost savings and efficiencies from reducing the number of marketplace memberships.

STEP 1

Jitney subscriber (TSX SOR user utilizing the Automated Jitney service) enters an order for smart routing.

STEP 2

TSX SOR determines marketplaces to be routed to based on routing logic.

STEP 3

Child orders are sent as:

  1. Jitney child orders to marketplaces of which the jitney subscriber is not a member. Order is sent with the jitney provider's broker number and trader ID; and/or
  2. Regular child orders to marketplaces of which the jitney subscriber is a member. Order is sent with jitney subscriber's broker number and trader ID.

STEP 4

Executions are sent:

  1. Execution reports sent back to the jitney subscriber retain its broker number and trader ID.
  2. Copy of all jitney executions are provided to jitney provider via FIX Drop Copy.

For more information please contact your Account Manager or our Sales Group at trading_sales@tmx.com

Read more on the Automated Jitney FAQ.

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