See more news releases in: Banking & Financial Services, New Products & Services
Alpha Group announces IntraSpread(TM) Facility
TORONTO, July 16 /PRNewswire/ - Alpha Group today announced that, subject to regulatory approval, Alpha ATS will implement a new trading facility - the Alpha IntraSpread(TM) facility, during the 4th Quarter of 2010.
The Alpha IntraSpread(TM) facility, a set of new orders offered by Alpha ATS, allows dealers to seek matches within their firm without pre-trade transparency and with guaranteed price improvement upon the National Best Bid and Offer (NBBO) at the moment of the trade. The Alpha IntraSpread(TM) facility will be available to all dealers that are Subscribers of Alpha and for all symbols traded on Alpha ATS. A detailed description of this new trading facility is available on the Alpha website www.alphatradingsystems.ca
"It is our intent to stay at the forefront of innovation in Canada", noted Jos Schmitt, CEO of Alpha Group. "The IntraSpread(TM) facility is another example of our forward thinking and focus on the better interests of the industry as a whole. Indeed, this facility will allow dealers to provide clients, who have tradable orders, with a trade price better than the NBBO of all transparent marketplaces in Canada. Furthermore, the fees that Alpha ATS will charge for using this facility will be considerably below any of the fees currently applied by any of the marketplaces operating in Canada including Alpha".
About Alpha Group - Alpha Group comprises the leading Alternative Trading System for Canadian Securities - Alpha ATS, and a data distribution plant for Alpha ATS market data. Alpha Group was established in May, 2007 by nine of Canada's leading financial institutions with the aim of increasing the country's securities trading efficiencies and making the Canadian marketplace more globally competitive. Established for the Industry, by the Industry, the Alpha Group focuses on increasing liquidity, reducing the cost of trading and providing innovative services leveraging its unique expertise, operating model and technological capabilities.
For further information regarding Alpha Group, visit www.alphatradingsystems.ca.
SOURCE Alpha Group
Back to top
Featured Video
More in These Categories
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Free Investing Newsletter from Investor Uprising!
Learn to navigate the world's financial system and profit from leading companies.
Register for Investor Uprising, the people's investment site, for a free weekly newsletter, information, education and premium research including our latest IU Confidential Report - "All The Glitters: The Ultimate Gold Report".