The TSX Group Inc. sent out a notice today reminding brokers that he POSIT Canada facility, on Toronto Stock Exchange, will be terminated at the close of trading on December 31.

POSIT Canada is an electronic order matching system that prices trades at the mid-point of the bid and ask in the continuous market. All orders are completely anonymous and trade reporting shows an anonymous broker number.

“The facility is being closed because the Canadian marketplace demand and usage did not support the continued operation of the POSIT Canada facility,” says the TSX Group.

In 2001, TSX entered into a software license agreement to use the POSIT software internally in connection with the operation of POSIT Canada for daily matching sessions of TSX listed issues.

Any POSIT orders sent after close of trading day on December 31 will not be routed to the POSIT systems. If a POSIT order is sent to the TSX it will not generate an acknowledgement or rejection message.