November 18, 2021
Equities Notice 2021-024
TMX Equity Trading Notice
Final Reminders: TSX DRK Conditionals Implementation Details
TMX is reminding all clients that the upcoming launch of Conditional orders on all TSX and TSXV-listed securities are going live in Production, effective this coming Monday, November 22, 2021.
In an increasingly fragmented market, TSX DRK™️ Conditional orders allow market participants to be represented anonymously in TSX and other conditional books simultaneously without the risk of overfilling or double execution, giving them access to natural block liquidity, while minimizing market impact. Access more information and benefits on Conditional orders, at TSX DRK Conditionals.
Typically Conditional orders are accessed through algorithmic trading strategies, and the summary of technical details and specifications relating to Conditional Orders are available in TMX Trading Notice 2021-015. For Full FIX Specifications, please refer to the TMX Webstore. The GTE testing facility became available on September 13th, 2021.
As a result of this change, TMX will be publishing test messages from all production TSX market data multicast groups on Saturday, November 20th between 00:01 (ET) and 23:59 (ET). These messages do not represent valid market data information and are to be ignored.
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