August 3, 2023
Equities Notice 2023-028

TMX Group

TMX Equity Trading Notice

TMX Equities Receives Regulatory Approval Regarding its New Order Books

TMX Equities is pleased to announce that it has received regulatory approval regarding its proposed new Alpha-XTM and Alpha DRKTM order books, as described in Equities Notices 2023-006 and 2023-007.

The new order books will be implemented as described in the Request for Comment and subsequent correction, with the following changes:

  • The duration of the static speedbump on the order books will be 3 milliseconds.
  • Smart LimitTM orders on the Alpha-X order book, when repriced by the system, will not retain their time priority at their new price levels.
  • Smart PegTM orders on the Alpha DRK order book, when trading at discretionary prices, will not be prioritized via broker preferencing over orders trading at their booked prices.

The new Alpha-X and Alpha DRK order books will be implemented and available as of Monday, October 23, 2023.

Trading fees on the new order books will be waived in the first months of operation, until January 2024. Market data feeds will be provided free of charge until further notice.