Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE TMX Group Inc.
TORONTO, Feb. 20, 2014 /CNW/ - TMX Group today announced that it has reached a major milestone in the phased launch of its new high performance trading engine, TMX Quantum XA™. Customers are now able to connect to the new trading platform in a test environment and participate in simulated order entry sessions in preparation for the migration of Toronto Stock Exchange symbols, planned for June 2014.
The TMX Quantum XA platform was short listed for a 2013 American Financial Technology Award for "Most Cutting-Edge IT Initiative" after TMX Select successfully transitioned in August 2013. The new platform is designed to enhance the quality of TMX markets with dramatically improved speed, latency variability and capacity. On the TMX Select market, this new generation of technology achieves a median latency of 26 microseconds and a 99th percentile latency of 38 microseconds across the full production day, measured at the network edge.
"Our technology team is very excited to begin testing TMX Quantum XA with our Toronto Stock Exchange customers as we move closer to full migration across our remaining equity markets," said Brenda Hoffman, Chief Information Officer, Group Head of Technology, TMX Group. "The TMX Quantum XA platform represents a step change in performance and efficiency in Canadian capital markets and sets a new cutting-edge standard for exchange technology."
"Our TMX Select clients are experiencing the considerable benefits of one of the world's leading trading engines and we are eager to similarly upgrade our service to participants of Canada's premier exchange," added Kevan Cowan, President, TSX Markets and Group Head of Equities, TMX Group.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
©2012 PR Newswire. All Rights Reserved.