The Toronto Stock Exchange is pausing plans to introduce new trading functionality slated for launch later this month.
The exchange’s TMX Equities division announced that it is putting off the planned launch of dynamic repricing for Order Protection Rule (OPR) reprice orders.
The new functionality, which was scheduled to debut on Sept. 23, has been “postponed until further notice,” it says in a notice announcing the delay.
“This postponement will allow additional time for solution design and client consultation to ensure that the optimal solution is introduced,” it says.
TMX announced plans to enhance OPR reprice functionality back in February for the TSX, TSX Venture Exchange (TSXV) and TSX Alpha Exchange, saying that it would “help clients maximize opportunities for order execution by repricing Dynamic OPR reprice orders towards their limit price as quotes change, while respecting limit prices and OPR restrictions.”