Omega ATS, an alternative trading venue for stocks listed on the Toronto Stock Exchange, has launched a new matching engine, which it says will execute orders in microseconds.
According to Omega, the new system, ThymeX, will make it one of the fastest trading venues in Canada. A microsecond is a millionth of a second.
ThymeX will include compressed market data feeds, enhanced connectivity options and a streamlined direct API (application programming interface). In addition, Omega has upgraded the hardware to support the new matching engine.
“Speed, reliability and price are key to the success of any alternative trading system,” said Eric Stoop, chairman, Omega ATS. “Recent daily transaction and share volumes put us ahead of some of our closest competitors.”
Omega ATS competes with Chi-X Canada, the alternative trading system operated by Chi-X Global, Pure Trading and Alpha Trading, which was established by nine Canadian investment banks and applied to the Ontario Securities Commission for recognised exchange status in April.