TMX’s MX partners with IVADO for data analysis

TMX GROUP Ltd.’s Montreal Exchange (MX) has entered into a joint initiative with the Montreal Institute for Data Valorization (IVADO) to explore innovative market data analysis and surveillance solutions. Under the terms of the three-year agreement, market

experts from MX’s regulatory division (MX-R) will collaborate with IVADO data scientists and analysts to study exchange data to uncover new ways to detect and address negative marketplace behaviours.

“The application of artificial intelligence in the financial services sector, alongside sophisticated trading algorithms, present unique challenges for exchanges in Canada and around the world in terms of speed of execution and market surveillance,” says Luc Fortin, president and chief executive officer of MX and global head of trading, TMX Group. “Recognized as a catalyst for bridging intelligence between academia and industry, IVADO will help to provide our regulatory division with insights to protect the integrity of the derivatives market.”

Emerging technologies and artificial intelligence will impact vast areas of business in future and it is vital to understand the market risk. From behavioural analysis of traders to the detection of market manipulation patterns and identification of new patterns, market surveillance is an area where artificial intelligence will play a key role as an emerging technology.

About TMX Group Ltd.

TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities and fixed income.

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