As we discussed in October, the TMX Group announced last year that it intended to begin operating a new alternative trading system (ATS) in 2011. It has now been announced that the new platform, TMX Select, will begin trading on July 11. A phased approach will be taken to the addition of securities to the platform, with eight available at launch and four the following week. According to TMX Select, the marketplace will offer extended trading hours and symmetrical pricing on both sides of a trade.
For more information, see the TMX's release 2011-034, which also includes a fee schedule, as well as IIROC Notice 11-0174.
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