Nasdaq CXD, Nasdaq Inc.’s new dark pool for Canadian stocks, will open for business on Monday and offer trading in all equities listed on the Toronto Stock Exchange and TSX Venture Exchange.
The market will not provide any pre-trade transparency of orders but will provide full post-trade transparency.
The dark pool will offer trading from 9:30 a.m. to 4:00 p.m. each day. It will operate independently from the firm’s existing venues, Nasdaq CXC and Nasdaq CX2. Nasdaq CXD will not be considered a “protected marketplace” under the trading rules.
Regulators granted approval for the new trading venue earlier this year after making a series of changes to its planned model, including reducing its planned trading hours and altering certain planned order types.
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