April 17, 2023
Equities Notice 2023-012
TMX Equity Trading Notice
Alpha-X™ and Alpha DRK™ Books Webpage and Specification Details
Further to Equities Trading Notice 2023-006, TMX Equities is pleased to provide specification details related to the proposed implementation of the Alpha-X and Alpha DRK books (subject to regulatory approval). We are also announcing the launch of a new Alpha-X and Alpha DRK webpage, which includes an FAQ on the new order books, and where we intend to provide further implementation details as we move closer to the launch date.
The new Alpha-X and Alpha DRK order books aim to provide a democratized trading environment, with focus on innovation and execution quality. Innovative new order types, together with an order processing delay, are expected to afford the natural investor a high-quality trading experience, with protections against adverse selection.
The order books are expected to be launched in September 2023 (subject to regulatory approval), with GTE availability in June 2023.
Specification Changes
The following specifications for the Alpha X and Alpha DRK books are now available on the TMX Webstore:
|
Specification |
Version |
|
FIX Order Entry |
7.2.0 |
|
Broadcast Feed |
11.3.0 |
|
QRTMD Alpha-X / Alpha DRK Level 1 (Stamp) |
2.2.0 |
|
QRTMD Alpha-X / Alpha DRK Level 2 (Stamp) |
2.1.0 |
|
Alpha-X / Alpha DRK TMX QuantumFeed Level 1 (Binary) |
2.2.0 |
|
Alpha-X / Alpha DRK TMX QuantumFeed Level 2 (Binary) |
2.2.0 |
For more details, please see the Alpha-X and Alpha DRK webpage.
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