All necessary regulatory approvals have been received for the introduction of the TSX Alpha Liquidity Provider (ALP) program, the TSX Alpha Exchange announced Monday.
The ALP program will take effect on Nov. 1.
The program is intended to produce better fill rates, larger fill sizes and lower trading costs for dealers that route order flow to Alpha by offering passive liquidity providers with “an opportunity to earn reductions in their per share passive fee rate for trading on Alpha when meeting the specified volume thresholds,” the exchange says in an equities trading notice.
The exchange says that the new program aims to encourage the posting of “quoted liquidity more continuously on Alpha throughout the day and across more symbols.”
The exchange initially proposed the new program back in July and planned to introduce it in August, but revised its initial plans, and the new program has now been approved.