Canadian venue-neutral infrastructure provider TMX Atrium has today announced that it has joined the UBS Multi-Lateral Trading Facility dark pool to its community as a result of trader demand for off-exchange trading facilities.
Although based in Markham, Ontario, TMX Atrium concentrates its commercial efforts on worldwide point-to-point connectivity, and has recently experienced high demand for connectivity via London’s LD4 datacenter in Slough, England which has come about, according to a recent Forex Magnates interview with TMX Atrium Managing Director Emmanuel Carjat due to of “continuing demand between the US and Canadian markets to enable trading of US / Canadian interlisted stocks.
“Demand is being driven by equity/FX arbitrage opportunities between Moscow and London and between the major FX hubs especially LD4 (London 4) and NY4 (New York)” explained Mr Carjat.
The joining of the UBS dark pool therefore conforms to TMX Atrium’s corporate policy as its connectivity is provided to the TMX Atrium point of presence (POP) within LD4 and is instantly accessible by the entire TMX Atrium community. With 25 POPs across North America, Europe and Russia, clients in the community can access a wide range of multi-region, multi-asset class venues including the recently added UBS MTF.
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Mr Carjat explained to Forex Magnates back in March that the firm had experienced a recently high demand for connectivity between Moscow and London during 2012, and that the demand for access to the less saturated markets of Russia is being driven largely by high frequency traders (HFT).
By connecting this particular dark pool to the TMX Atrium network, it furthers the company’s initiative in allowing members internationally to trade not only multiple lit venues but also adding to the existing dark pools by adding the largest dark pool MTF.
Mr Carjat published his commentary on the addition of the UBS MTF to TMX Atrium’s network today: “We are delighted that a successful dark pool such as UBS MTF has decided to join our community. We have a rich and diverse customer base made up of exchanges, ECNs, MTFs, market data and algo news providers, as well as both buy and sell side participants.
“It is this rich community, depth of reach and sole focus on the financial services industry that ensures customers continue to choose TMX Atrium.”
Richard Semark, Chief Executive Officer, UBS MTF, commented in a corporate statement: “UBS MTF has a clear objective to provide high quality liquidity to UBS clients and UBS MTF members. Efficient and effective provision of access by TMX Atrium gives firms an easier way to go live and access the liquidity of UBS MTF. We look forward to working with TMX Atrium and the mutual liquidity benefits this arrangement will bring for our members and their community.”