TMX unveils next-gen trading platform

The days of waiting around for over 100 microseconds for a trade to be processed may be coming to an end. TMX Group has announced the roll-out of TMX Quantum XA, the latest upgrade in its trading system.

“It is expected that there will be a twenty-fold reduction in median latency to sub-100 microseconds on order executions,” the company said in a press release. Quantum XA is designed to be capable of handling 200,000 orders per second.

But all that speed will have to wait at least another year; the new system is expected to be up and running by the first quarter of 2013.

“TMX Group is providing cutting-edge service to our trading customers with TMX Quantum XA,” said Kevan Cowan, president, TSX Markets and group head of equities, TMX Group. “We are confident that this leap forward in our equity trading technology will help our customers succeed in the rapidly-evolving global marketplace.”

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The staff of Advisor.ca have been covering news for financial advisors since 1998.