October 30, 2018 (TORONTO) – Montréal Exchange (MX), Canada's derivatives exchange, today announced a joint initiative with the Montréal 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 behaviors.
"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 behavioral 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.
"We are thrilled to form this strategic partnership with TMX Group, a major actor in the international finance community," said Gilles Savard, General Director, IVADO. "In the context of the digital revolution, this collaboration opens new opportunities for business services through the sharing of financial skills and scientific expertise in data development. This partnership also consolidates our achievements for IVADO's finance and trade division and will help us develop the tools for tomorrow's economy."
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities and fixed income. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, Trayport and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Beijing and Singapore. For more information about TMX Group, visit our website at www.tmx.co. Follow TMX Group on Twitter: @TMXGroup.
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