The TriAct Canada Marketplace (TCM) is a fully confidential platform that executes portfolio and single stock orders against each other and against a continuous flow of marketable orders.
TCM will combine a number of unique features that will enable users to control trade execution, minimize risk, and achieve overall trading goals, stated Wendy Rudd, CEO of TCM. Canadian dealers and their clients will benefit from the opportunity to achieve best execution, in full compliance with the principles embodied in the Canadian regulatory framework, without the need to implement significant changes to their trading environments.
ITG said the TCM will act as a broker-neutral matching facility and will not participate on an agency or proprietary basis in any trade. Institutional clients will continue to execute through, and pay commissions to, the dealers they choose.
The TCM is expected to launch in the fourth quarter of 2005.
