As the TSX Group Inc. revealed yesterday, the Ontario Securities Commission has granted approval for its new matching facility, known as ATX (Alternative Trade eXecution).

In today’s OSC Bulletin it is reported that the OSC approved amendments to the rules of the Toronto Stock Exchange regarding the implementation of the pre-trade matching facility ATX, which will match subscriber order flow against in-house interests as well as against the interests of other subscribers in a blind electronic book.

The purpose of the amendments is to implement a set of rules regarding the entry of orders and the pre-trade matching that will be facilitated by ATX, it notes.

The proposed amendments were published for comment in October 2006. Four firms commented on the proposed amendments: Market Regulation Services Inc., GMP Securities L.P., Perimeter Markets Inc., and Commission Direct Inc.

The OSC notes that some non-material changes have been made to the amendments that were originally published. A summary of the comments received and the TSX’s response are also published in the Bulletin.