Hosted by Peter Haynes, Head of Index and Market Structure Research, Bid Out is a made in Canada podcast series that explores market structure issues impacting trading and portfolio management globally.
The monthly series interviews industry leaders and experts across the entire spectrum of capital markets to understand trends and recent developments shaping capital markets.
All content for Bid Out with Peter Haynes is the property of TD Securities and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Hosted by Peter Haynes, Head of Index and Market Structure Research, Bid Out is a made in Canada podcast series that explores market structure issues impacting trading and portfolio management globally.
The monthly series interviews industry leaders and experts across the entire spectrum of capital markets to understand trends and recent developments shaping capital markets.
Coming Home – A Detailed Look at Canadian Equity Market Structure
Bid Out with Peter Haynes
55 minutes 45 seconds
9 months ago
Coming Home – A Detailed Look at Canadian Equity Market Structure
In Episode 69, two Canadian market structure experts, Doug Clark, Head of Equity Product Design for TMX Group, and Rob Gouley, Equity Trading Principle, OMERS, join the podcast to dig in on all things Canadian equity market structure. The conversation starts with a quick elevator pitch on what are the key differentiating features about trading in Canadian shares versus other market models, including the troublesome growth in F Class trading of Canadian shares in the US OTC market. Rob provides his perspective on venue innovation in Canada, and also gives a positive take on the TSX's revised market on close mechanism, which now looks and feels a lot like Nasdaq's US MOC mechanism. Doug provides a 411 on both Alpha X in Canada, and the recent launch of AlphaX US, and Rob outlines the better late than never CSA response to the SEC's market structure rule changes. The two speakers end up in a thought exercise on what Canada's market would look like if Canada banned OPR and Fair Access.
This podcast was recorded on January 24, 2025.
Chapter Times:
05:45 - The Elevator Pitch on Trading in Canada
10:00 - Canadian Trading Volume on F Class Shares in US
13:50 - The Pros and Cons of Transparent Broker IDs
17:30 - New Marketplace Innovations in Canada
28:58 - TMX Dips its Toes into US Ocean
35:50 - Canada's Reboot on Market on Close
39:52 - Canadian New Issue Market in Atrophy
43:55 - Canada's Response to SEC on Ticks and Access Fees
50:43 - A Case for Canada to Ban OPR and Fair Access
Bid Out with Peter Haynes
Hosted by Peter Haynes, Head of Index and Market Structure Research, Bid Out is a made in Canada podcast series that explores market structure issues impacting trading and portfolio management globally.
The monthly series interviews industry leaders and experts across the entire spectrum of capital markets to understand trends and recent developments shaping capital markets.
