TMX AlphaX US AlphaX™US Home (current) Form ATS-N FAQ Contact Us AlphaX Hub AlphaX US Innovation delivered. AlphaX US is a US equity ATS offering broker-dealers a venue focused on execution performance, customization opportunities, and transparency in executing trading strategies. AlphaX US is excited to collaborate with our Participants to provide innovation and seamless integration into their trading platforms. Key Benefits Focus on Execution Quality Find liquidity and opportunities for price improvement. Ease of Integration Implement and integrate functionality seamlessly into your trading platform. Tailored Experience Customize your trading interactions for an improved experience and increased transparency. Key Features Periodic Auction Matching Periodic Match Events every 40ms (randomized +/- up to 20%) Single Match Event: Multiple executions, maximizing both shares traded and price improvement Match at midpoint of buyer and seller order book prices, capped by NBBO Price/time priority, constrained by Participant parameters Order Types & Attributes Counterparty Selection allows trading with directed or internalized flow without the need for a private room Firm and Conditional orders supported Order Types: Market, Limit, Peg* (Prim/Mid/Mkt) Day and AOC (next Auction or Cancel) Minimum execution quantity *Offsets supported on Prim & Mkt Peg Tiering / Segmentation* Granular approach to Tiering allows Participants to focus on relevant performance parameters Participants can opt out of executing with any Tier below their own Based on quantitative mark-outs *Tiering is not yet available Analytics & User Interface AlphaX Hub interface for managing order routing strategies Analytics provide insights for enhanced performance  “What-if” scenario back-testing to refine trading strategies coming soon July 2026 Average Daily Statistics $467,397,214 Notional Traded 5,243,912 Shares Executed 2,997 Unique Symbols Executed 99 Average Fill Size Quarterly Averages: Daily Trading Results Shares Executed Market Share Notional Traded Figures represent all trades on AlphaX US for the applicable period, and are single-counted to include only one side of the transaction as reported by FINRA. Innovation in Alternative Trading System The Trade, Leaders in Trading New York 2025 Award Winner Most Innovative Third-Party Technology Vendor: Trading, Risk & Compliance WatersTechnology, American Financial Technology Awards 2025 Award Winner Capital Formation Toronto Stock Exchange TSX Venture Exchange TSX Trust TMX Newsfile Equities and Fixed Income Trading and Clearing Toronto Stock Exchange TSX Venture Exchange TSX Alpha Exchange Shorcan Canadian Depository for Securities Derivatives Trading and Clearing Montréal Exchange Canadian Derivatives Clearing Corporation Global Insights TMX Datalinx TMX Trayport TMX VettaFi TMX Money Contact Us Terms of Use Privacy Policy Regulatory X Facebook LinkedIn YouTube Copyright © 2026 TMX Alpha US, LLC All rights reserved. TMX Alpha US, LLC a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). FOR PROFESSIONAL PARTICIPANTS ONLY – NOT INTENDED FOR RETAIL CUSTOMER USE. The products, services, materials and information listed or provided on this website are for information purposes only. Nothing on this website is intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The products, services, materials and information listed or provided on this website are not an invitation to trade securities on the alternative trading system operated by TMX Alpha US, LLC (“AlphaX US”) nor is it an endorsement or recommendation of any security trading on AlphaX US. For more details on the use of this website, please see Terms of Use. TMX Alpha US, LLC is an indirect subsidiary of TMX Group.