Canada’s Aequitas Neo Exchange Onboards TD Direct to Expand Brokerage Network

TD Direct Investing now provides its clients direct and real-time access to see and trade NEO-listed securities in Canada’s newest stock exchange, the Aequitas Neo Exchange in Toronto, according to a NEO statement.

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The move, which allows TD clients access to Canadian listings trading on the NEO Exchange, also ensures readiness for the recently announced planned migration of certain BlackRock Canada iShares Funds from the TSX to NEO. Meanwhile, the NEO Exchange has a number of ETFs set to commence trading in 2017.

Aequitas NEO Exchange is a stock exchange, rivalling the Toronto Stock Exchange and TSX Venture Exchange, which are owned by the TMX Group Ltd. Aequitas also represents a joint venture between several leading financial entities including RBC, IGM Financial, CI Financial, PSP Investments, ITG and Barclays.

The focus of the new exchange is to eliminate what it calls predatory high-frequency trading practices, in which technology allows some traders to buy securities faster than others.

TD Direct Investing will allow clients access to Canadian listings trading on the NEO Exchange through WebBroker, Advanced Dashboard, and the TD App.

Jos Schmitt, President and Chief Executive Officer of NEO Exchange, commented: “The support of TD Direct Investing, Canada’s largest online brokerage, represents a significant milestone in our efforts to achieve maximum visibility for NEO-listed securities.”

“Through our commitment to offering retail investors real-time access to NEO-listed securities free of charge, companies and providers of investment products can feel confident that when they list with NEO, their securities will reach the broadest possible audience,” he added.