Q: How does the TSX SOR Automated Jitney service benefit our firm?

A: The TSX SOR Automated Jitney service benefits subscribers in three main ways:

  • Cost savings from not joining all marketplaces (e.g. subscription fees, access fees, connectivity fees);
  • Compliance with IIROC/CSA best-price obligation; and
  • Convenience and efficiency in accessing and managing all marketplaces through one central connection and relationship

Q: How much money will the TSX SOR Automated Jitney service save our firm?

A: There are many costs associated with maintaining a direct relationship with all Canadian marketplaces. These include fees for: initiation/set-up, monthly usage, access based on number of users, connections and sessions, market data, and connectivity. By using the TSX Smart Order Router and the Automated Jitney service, you can potentially cut some or all these costs.

Q: How do I sign up for the TSX SOR Automated Jitney service?

A: Contact your TSX Account Manager who will facilitate this process. At a high level, there are two basic steps to subscribing to the service: (i) Your jitney provider has to sign the Jitney Provider Agreement with TSX; and (ii) You will need to sign the TSX SOR Subscriber Agreement (if not already done). Once agreements and SOR connections are in place, the jitney mappings can be set-up within 2 business days.

Q: Who can I use as my jitney provider?

A: The TSX SOR Automated Jitney service is designed to be flexible, for use with any registered broker-dealer that has access to all Canadian visible protected marketplaces. TSX has partnered with leading Canadian correspondent clearing firms to offer this service. Please contact your TSX Account Manager, who can assist in facilitating this relationship.

Q: Can I take advantage of all the TSX SOR routing algorithms through the TSX SOR Automated Jitney service?

A: As a TSX SOR Automated Jitney subscriber, you will have full access to all the available TSX SOR best-price compliant routing algorithms. A default algorithm can be configured for every order, which can be overridden on an order by order basis.

Q: I am currently a member of TSX/TSXV and one other marketplace. Can I still use the Automated Jitney service to jitney to the other three protected marketplaces?

A: Yes, the Automated Jitney service will only jitney orders to marketplaces of which you are not a member. All your orders to marketplaces of which you are a member will still be routed with your broker number.

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

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