The Toronto Stock Exchange (TMX) has completed the second phase of its equity enterprise expansion project, which aims to provide customers with improved trading technology and performance across the exchange’s trading engine, TSX Quantum.
The second phase provides higher throughput and capacity at 40,000 order messages per second, doubling existing capabilities with the introduction of a second trading engine partition.
“We expect that this performance upgrade will attract increased order flow to the TMX Group exchanges, as well as to the Canadian market,” said Kevin Cowan, president of TSX markets and group head of equities.
The upgrade has also seen the split of TSX data feeds into partitioned feeds, where each feed supports data for those symbols that are unique to its trading engine partition.
TMX is currently the target of a proposed acquisition by Maple, a consortium of 13 Canadian financial institutions. Though officially endorsed by the TMX board after a policy U-turn, the deal has been criticised by several market participants who fear it could result in the creation of a monopoly exchange business in the Canada.