TMX Group to overhaul clearing and settlement tech with TCS Bancs

TMX in major tech consolidation and revamp

Canada’s TMX Group has recruited TCS to help it renovate its clearing and settlement business technology. The Indian vendor will provide “a single, integrated technology platform” to TMX – TCS Bancs for Market Infrastructure – to replace disparate legacy systems deployed by the Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC).

TMX Group embarks on business integration initiative


Canada’s major exchange, depository and clearing group – TMX – has unveiled a new initiative that is set to transform the company into “a client-driven solutions provider to the Canadian and global capital markets”. TMX states that “the objective of the initiative is to align, simplify and integrate relevant systems and operations to both lower […]

Anti-HFT Aequitas Neo Exchange prepares for launch

Aequitas chief Jos Schmitt plans to favour the long-term investor over the HFT

A new exchange is planning to begin trading in March, with a platform focused on long-term investors and issuers. Chief executive Jos Schmitt says the new venue has some unusual features which should help keep unwanted high-frequency traders at bay.

Jos Schmitt returns to build new Canada exchange

Jos Schmitt is planning a comeback at the helm of a new Canadian exchange

Former Alpha ATS chief Jos Schmitt is planning a new stock exchange for Canada, to be called Aequitas Exchange, which will take on incumbent TMX Group.

LSE/TMX to collaborate on fixed income venture

The LSE and TMX will create a combined fixed income index business

The London Stock Exchange’s FTSE Group and Canadian exchange TMX have signed an agreement to combine their fixed income index business in a new joint venture, resurrecting at least part of the cooperation originally planned under the two exchanges’ failed merger back in June 2011.

Canada poised for change as ‘megabourse’ takes shape

Canadian market participants can now choose between TMX and Chi-X Canada

The departure of former Alpha Group chief executive Jos Schmidt marks a turning point for Canada’s capital markets, as participants await the formation of a new unified ‘megabourse’ comprising Alpha, Canadian exchange group TMX, and the Maple consortium of banks.