TMX Group Inc. (TSX:X) has successfully completed the first phase of its equity enterprise expansion project, the company said Monday.

The multi-phased initiative, which was first announced in October 2009, is designed to upgrade the infrastructure across the TMX trading enterprise, providing decreased latency, increased throughput capability and enhanced performance.

“These ongoing investments in our trading technology demonstrate TMX Group’s steadfast commitment to delivering leading-edge technology to our trading clients,” said Kevan Cowan, president, TSX Markets and group Head of equities. “We offer clients the best trading environment in Canada, with market-leading latency, the deepest liquidity and the richest functionality.”

The first phase involved the migration of the Toronto Stock Exchange and TSX Venture Exchange trading engines onto the new infrastructure. TMX Group’s recently completed implementation of its order entry gateway made the average order response time five times faster.

With the first phase complete, TMX has further cut latency in half, the company said.

“Clients are now experiencing record low latencies,” said Brenda Hoffman, senior vice president and chief information officer, TMX Group. “And as work progresses on the remaining phases, latency is expected to be reduced even further.”

TMX Group is the operator of the Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Equicom.

IE