TMX launches pre-trade risk controls
Canadian exchange TMX will provide
pre-trade risk solutions to equity trading clients, it
The TMX Pre-Trade Risk Management
Solution has been
designed to let traders cut down on costs associated with
implementing their own trade risk systems.
Robert Fotheringham, senior vice president,
trading for TMX, said the new system would give traders more options for managing
"We are offering a low latency
and functionally rich solution to assist participants in managing the risks
associated with electronic trading and to help comply with the upcoming
regulatory and financial risk management obligations mandated by regulators.
"Our flexible solution also enables
participants to leverage the economies of scale of an exchange-hosted solution
to manage order flow, market access, and risk across the whole market,”
The system, developed by trading technology firm Mantara and managed and hosted by TMX, will let brokers offer clients real-time risk
controls across all Canadian equity marketplaces.
The system will also allow for
customisation at the firm, trader or client level.
Earlier this month, the Maple Group, a
consortium of a dozen Canadian financial institutions, was given the go-ahead
by TMX to complete a takeover of the Canadian exchange group.