About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

TMX Group Switches to Ullink for Pre-Trade Risk Management

Subscribe to our newsletter

TMX Group, operator of the Toronto Stock Exchange, is planning to migrate equity trading customers using Mantara pre-trade risk management and connectivity tools to Ullink solutions. TMX has maintained Mantara products since the company filed for Chapter 11 bankruptcy in October last year, but will cease to do so once it is up and running with Ullink trading and connectivity solutions.

Rick Barber, director of product development for equities trading at TMX, explains: “We continued to maintain the Mantara pre-trade risk management service while we looked for a replacement. We selected Ullink as it is a well respected vendor in the US and has fairly mature products that are in use around the world. Ullink is not in the Canadian market, but we had experience of its solutions as some of the company’s customers connect to our markets. Ullink could also deliver in the short timeframe we needed to achieve.”

TMX plans to have Ullink pre-trade risk management and connectivity to TMX equity markets up and running this spring and to have migrated all Mantara users to the Ullink solutions by early summer. The pre-trade risk management system plays into regulation from the Ontario Securities Commission that last year issued a requirement for markets and participants to ensure that risks associated with direct electronic access are appropriately managed.

The TMX solution will allow participants to apply risk checks, trading limits and controls to their order flows and will provide real-time monitoring of overall committed capital, open order exposure and intraday market risk exposure across all major Canadian equity venues. It will also give customers a single point of access to all TMX equity markets.

While equity trading customers are not required to use the TMX pre-trade risk and connectivity tools, Barber says they provide customers with a one-stop-shop and are part of continual improvement of the TMX trading experience. Looking forward, he says TMX will evolve the Ullink solutions when customers want to trade at new destinations and in line with any additional regulation.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: The Role of Data Fabric and Data Mesh in Modern Trading Infrastructures

23 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The demands on trading infrastructure are intensifying. Increasing data volumes, the necessity for real-time processing, and stringent regulatory requirements are exposing the limitations of legacy data architectures. In response, firms are re-evaluating their data strategies to improve agility, scalability, and governance....

BLOG

Rethinking Market Data: From Lock-In to Independence

For decades, many capital markets firms have relied on legacy market data platforms that were built before the internet and have since become increasingly data vendor specific and costly to maintain. Some of these platforms, while functional, are no longer actively developed in meaningful ways, creating significant risks as expertise fades and costs spiral out...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...