TMX Group, the operator of the Toronto Stock Exchange, has announced the launch of AlphaX US, a new Alternative Trading System (ATS) venue. The platform focuses on enhancing execution quality and marks TMX Group's first expansion outside Canada for its Markets division.

Separately, TMX Group has finalized the acquisition of the remaining 78% stake in VettaFi Holdings LLC. Combined with its earlier 22% investment, the total acquisition cost is $1.03 billion (CAD 1.40 billion).

AlphaX US Offers Customization and Analytics

"After continuous consultation with our clients, we are proud to introduce AlphaX US, a venue that is focused on execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term performance, and provides innovation and ease to the broker dealer community," said Heidi Fischer, President, TSX Alpha US.

TMX Group launches new US Equity ATS venue - AlphaX US marks first international expansion for TMX Markets. Read the release: https://t.co/94n8iaJ75F pic.twitter.com/pkWWWaZan8

— TMX Group (@TMXGroup) January 22, 2025

AlphaX US will exclusively trade U.S.-listed securities, including common stocks, exchange-traded funds, and American depositary receipts under Regulation NMS. Participants must be FINRA-registered broker-dealers.

"There are several unique offerings within AlphaX US, and we have combined that functionality with a model that provides easy implementation, customization, and strong analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term for our partners. It’s through feedback and collaboration with our stakeholders that we are able to deliver solutions that make markets better," Fischer added.

New Trading System Fulfills Client Needs, TMX Says

The system adheres to the U.S. equity market holiday schedule and operates during regular US market hours. Order entry opens 60 minutes before trading begins and continues throughout the trading day.

"One of our top priorities is solving for the business needs of our clients," commented Luc Fortin, Global Head of Trading, TMX Group. "We are excited to embark on this next chapter of growth for TMX to build upon."

TMX Group Finalizes VettaFi Acquisition Deal

VettaFi, a US firm specializing in indexing, analytics, and digital distribution for the ETF and asset management sectors, generates over 80% of its revenue from recurring sources, as reported by Finance Magnates.

This purchase supports TMX Group’s strategy to expand its recurring revenue and data-driven products. Financed by $1 billion in bank debt, the deal is expected to benefit TMX's adjusted EPS in its first year. VettaFi will operate under TMX's Global Solutions division.