TSX Markets President Rik Parkhill announced Wednesday that the exchange will be using a new trading engine and a smart order router by 2007.
The trading engine is designed, TSX says, to offer messaging capabilities to better meet the ever-changing marketplace needs and response times in the single digit millisecond range. These response times will be, equal to, or better than, any current exchange group in the world.
“Global interest in TSX is increasing, as energy and mining and small caps issues drive TSX to outperform most major international markets,” Parkhill says. “TSX has a long tradition of leadership in high-technology trading and a record of success in anticipating the demands of marketplace participants. TSX will compete aggressively for the benefit of the Canadian capital market.”
The announcement comes shortly after TSX reported a continued increase in investor activity, especially in the areas of gold, energy and technology (see: “Gold, Energy, Technology Bolster TSX”).