Advantages of Using MATCHNow®

MATCHNow® is designed to offer better execution to institutional, proprietary and retail customers alike. Users of MATCHNow® gain several strategic advantages in Canada’s capital markets.

ACCESS Advantages

Confidential Continuous Trade Execution

Broker- neutral dark book combines frequent call matches with continuous execution.

Available to All Market Participants
  • Canadian registered dealers
  • Canadian buy side and U.S. firms (through sponsoring Canadian Dealers)
  • Participants connect via 3rd part Access Vendors or directly via FIX
Sweep Multiple Markets in One Step
  • Trade TSX and TSX-Venture listed securities, as well as Aequitas and CSE listed securities
  • Unmatched orders are routed directly to the marketplace of your choice

COST Advantage

Automatic Price Improvement
  • Trade inside the Canadian National Best Bid/Offer (NBBO)
  • Orders are traded at mid-point by default
  • Smart-routed orders gain 50% of the spread
  • Liquidity providers have access to contra passive orders and streaming active orders from Smart Order Routers
Reduce Execution Costs
First Stop for Smart Order Routers
  • Large price improvement inventive for natural active flow to check MATCHNow® before the lit market
  • Reduce information leakage by trading at mid-point
  • Designed to help natural investors source liquidity

TACTICAL Advantages

No Public Book Display
  • No pre-trade information on participants, order sizes, or pricing
  • Post-trade information is only publicly displayed on the consolidated tape post-trade
  • No tiered markets data, eliminate latency arbitrage
Zero Market Impact
  • Opportunity for size improvement with zero market impact when entering large orders – no fear of disclosure
  • Using the “anonymous” feature virtually eliminates any information leakage
  • Rest a large block with minimum fill quantities, while taking visible liquidity
Execution Control & Risk Management
  • MATCHNow® offers unique features (e.g. Order Expiration Time, Price Protection, etc.)
  • Users can control trade execution, minimize risk, and achieve overall trading goals

Latest Updates

Read More
  • November 2018 Monthly Highlights

    MATCHNow® attained market share by volume of 6.45% for November, compared to previous month of 6.19%. MATCHNow® attained market share by volume of 5.95% for November, compared to previous month of 5.97%.

    Read More
  • Week Ending Nov 30th, 2018

    MATCHNow’s market share by volume for the week ending Nov 30th was 6.27% compared to previous week of 6.27%. MATCHNow’s market share by value for the week ending Nov 30th was 5.59% compared to previous week of 5.84%.

    Read More