Introducing the New TSX Market on Close® (MOC®)

TMX Group launches enhanced closing auction facility, the definitive source for equities closing prices in Canada

October 18, 2021 (TORONTO) - TMX Group today launched the new TSX Market on Close® (MOC®), a facility designed to enable investors to source liquidity and participate in trades at the closing price. The new features of the enhanced MOC facility are aimed at providing clients with an improved trading experience, and delivering benefits to the broader Canadian capital markets ecosystem with increased efficiency in determining end-of-day valuations for eligible Toronto Stock Exchange (TSX) and select TSX Venture Exchange (TSXV) listed issues.

"We are proud to introduce the new and improved TSX MOC, an adaptive response to industry needs and a significant step forward in ensuring Canada's markets remain transparent, liquid and globally competitive," said Rizwan Awan, President, Equities Trading and Head of TMX Markets, Products & Services, TMX Group. "The enhanced, modernized TSX MOC model is the culmination of two years of dedicated work by our team in close collaboration with a wide range of participants across our client community, and we are confident that the new features will reap wide-reaching and long-lasting benefits."

Introduced in 2004, the TSX MOC facility operates as an electronic call market, providing equal access and opportunity for investors looking to source liquidity and participate in trades at the closing price. TSX MOC also plays a vital role in Canada's markets by providing efficiency and accuracy in setting the TSX Closing Price and TSXV Closing Price for eligible listed issues.

The new TSX MOC model introduces three high level changes, each designed to address issues of transparency, alignment with global markets, and consistency of execution:

1. Enhanced transparency by increasing depth of detailed information and frequency of communication regarding Imbalances.
2. Newly defined MOC Imbalance market state to align with global models.
3. Additional MOC Freeze market state to mitigate volatility and help prevent unexpected price and imbalance movements.

For more information, visit www.tsx.com/new-moc.

About TMX Group (TSX:X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.

For more information please contact:

Catherine Kee
Senior Manager, Corporate Communications & Media Relations
TMX Group
416-814-8834
catherine.kee@tmx.com