Overview

MATCHNow, a Cboe Global Markets Company, operates Canada’s largest equity ATS and dark pool, accounting for approximately 5% of Canadian volume traded. A primary goal of MATCHNow is to provide price improvement versus the protected NBBO for Canadian investors. In 2019, MATCHNow facilitated the street with $170 Million in price improvement. Cboe acquired MATCHNow in August 2020 from Virtu Financial, Inc. To learn more about that transaction, click here.

The Four Pillars of MATCHNow

Price Improvement for Active Order Flow
MATCHNow sources the most price improvement in Canada for investors
90% of the value traded on MATCHNow occurs at midpoint
Anonymity
As Canada’s largest dark pool for equity securities, MATCHNow facilitates liquidity when you don’t want to show your intentions on a lit venue.
Size Discovery
MATCHNow’s proprietary pro-rata algorithm, coupled with the conditionals book, rewards orders for size.
Internalization Engine
MATCHNow facilitates a broker-priority match, even when you choose to print under anonymous (broker 001)

Channel your diverse order flow to MATCHNow and benefit from free unintentional crosses.

Summary of market volume and market share by venue for the Cboe Canadian equities exchanges.