Pure, ATSs grab 32.8%, Omega changes fees, adds rebates
2011-04-26 16:47 ET - Street Wire
by Stockwatch Business Reporter
Alternative trading systems in Canada captured 32.8 per cent of trading volume during the shortened week ended April 21, 2011. The Toronto Stock Exchange and TSX Venture Exchange combined were left with 67.2 per cent. Alpha Trading Systems came first with 249 million shares a day or 22.5 per cent of Canadian volume. Next, Chi-X Canada traded 53.4 million shares a day or 4.8 per cent. Pure Trading took third place with 38.1 million shares a day or 3.4 per cent, followed by Omega ATS with 21.5 million shares or 1.9 per cent. In last place was dark pool Match Now with 19.6 million shares or 1.7 per cent of volume.
For securities only listed on the TSX, Alpha had 21.4 per cent of volume, while the TSX took 57.1 per cent. Meanwhile, The TMX Group is busy reviewing an Ontario provincial legislative committee report on the TMX Group-London Stock Exchange merger. The committee says it will not take a position on the deal, but has recommended nine changes. The report is not legally binding, and the TMX plans to update the public again shortly.
Last week Omega president Mike Bignell talked up his ATS's progress. This week, Omega plans to attract more traders with maker-taker fees for TSX-V-listed stocks. On May 1, Omega will start rebating the passive side 0.06 of a cent for stocks under $1, while charging the active side 0.08 of a cent. For stocks over $1, it will rebate the passive side 0.16 of a cent and charge the active side 0.2 of a cent. Currently, Omega charges the same for stocks on both exchanges; the active side pays 0.02 of a cent for stocks under a $1 and 0.07 of a cent for stocks over $1.
Chi-X Global is touting an award it received for being Asia's alternative exchange of the year at The Asian Banker Achievement Awards. The Asian Banker is a Singapore-based company, owned by Emmanuel Daniel, which conducts research and publishes an on-line journal about the financial services industry. It awarded Asian exchange of the year to the Korea Stock Exchange.
European ATSs, multilateral trading facilities (MTFs), are off to Spain. Until recently, a Spanish clearing and settlement rule prevented MTFs from entering the market, according to Reuters. Now, that rule has gone and Spain's main exchange, Bolsas y Mercados Espanoles, is at risk of losing its domestic trading monopoly. Cheaper, faster MTFs have already toppled the trading monopolies of the London Stock Exchange, the NYSE Euronext and the Deutsche Boerse, where MTFs have been taking 30 per cent of trading.
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About time we get ATS realtime feeds/books and consolidated data!
Posted by Batman at 2011-04-27 06:40
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