HFT Turns Sour for North American Exchanges
TMX's changes mark a wider shift in the US and Canadian landscapes.
TMX, which operates the Toronto Stock Exchange, Alpha Group and other venues and depositories, will introduce a number of changes to the way it structures its business, and address concerns over flow and execution quality. The group will close its TMX Select business and Alpha IntraSpread dark pool, while also eliminating the opening auction on Alpha. The venue's technology will be migrated to its new Quantum XA trading engine.
However, the key changes are coming to the ways in which the
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