Which system listed provides a trading platform that is well-known for providing anonymous transactions?

Which system listed provides a trading platform that is well-known for providing anonymous transactions?

• A. TMX Group
• B. Liquidnet Canada Inc.
• C. Instinet Canada Cross Limited
• D. TriAct Canada Marketplace (MATCH Now)

Answer: (D)

The trading platform known for providing anonymous transactions is TriAct Canada Marketplace, often branded as MATCH Now. This platform is designed to facilitate non-displayed trading, which allows participants to execute trades without revealing their identities to market participants prior to execution. The primary advantage of this anonymity is that it helps to reduce market impact and allows traders to engage in larger trades without affecting the public market prices or revealing their trading strategies.

MATCH Now operates as a pure alternative trading system (ATS), which reflects a commitment to providing a marketplace that prioritizes confidentiality for its users. This contrasts with other platforms, which may have varying levels of anonymity and transparency based on their operational structures and market focus.

For instance, while the TMX Group is primarily known for its traditional exchange-based trading and Liquidnet Canada Inc. focuses on institutional block trading with some anonymity, they do not offer the same level of anonymity for every trade as MATCH Now does. Similarly, Instinet Canada Cross Limited also provides various services but does not emphasize anonymity to the same degree as MATCH Now does with its specific design to cater to anonymous trading needs.