The ceremonial first trade on Canada’s newest stock exchange was made on Friday, as the Aequitas Neo Exchange launched from Toronto’s Design Exchange.
The focus of the new exchange is fairness — it aims to eliminate what it calls predatory high-frequency trading practices, in which technology allows some traders to buy securities faster than others. The Neo exchange is meant to be a counter to the Toronto Stock Exchange and TSX Venture Exchange, which are owned by the TMX Group Ltd.
“At Aequitas we are on a journey to redefine the role of the stock exchange,” said the exchange’s president and chief executive Jos Schmitt, at the launch. “We are making the pie bigger for those that are seeking new opportunities.”
CBC News P – March 27, 2015.
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