It estimates that the new service will speed up order entry by 14 microseconds, and the receipt of market data feeds by one microsecond.
The company said that it’s proposing the new service due to growing demand for super-fast trading, its desire to provide traders with optimal performance, and to “remain globally competitive” with similar offerings from major global rivals, including the NYSE, Nasdaq and the Deutsche Börse.
“While the current connectivity offerings reflect standard offerings within peer exchanges (both in Canada and internationally), there continues to be growing client demand for faster processing of message traffic, and the exchanges aim to continually innovate to improve trading performance and meet the evolving requirements of Canadian capital market participants,” it said.
In the proposal, which is out for comment until Oct. 13, the TMX maintains that the proposed new service will…
