MATCHNow Launches Conditional Orders in Canada

Traders Magazine Online News, January 7, 2019

John D'Antona Jr.

TriAct Canada Marketplace LP, a subsidiary of ITG Canada Corporation, today announced the launch of conditional orders in MATCHNow, Canada’s premier broker-neutral dark book.

This conditional order functionality enables MATCHNow subscribers to electronically indicate block size liquidity in MATCHNow, providing a valuable source of additional liquidity. Conditional orders in MATCHNow have a minimum size of 51 standard trading units or C$100,000 notional value, and firmed-up orders are executed in accordance with existing MATCHNow logic, which includes mid-point execution on a pro rata basis, with broker preferencing.

“Given the growing complexities in equity execution, there is an increasing focus on improving overall trading performance, and on trading in larger sizes,” said Bryan Blake, CEO of TriAct Canada Marketplace LP.  “We are excited to launch an innovative order type that gives traders the opportunity to seek price improvement on block-size orders while minimizing market impact.”

For more information on related topics, visit the following channels:

• Brokerage
• Dark Pools/ECNs