Business as usual and committed to our mandate
TORONTO, May 17 /PRNewswire/ - Alpha Group ("Alpha") commented today that it remains committed to making the Canadian capital markets more efficient, less expensive, more liquid and will continue business as usual, as well as execute on all its strategic initiatives including its application to become a listing exchange.
On May 14, 2011, Alpha was informed of the Maple Group Acquisition Corporation ("Maple") proposal to acquire the TMX Group and to seek its merger with the Canadian Depository for Securities ("CDS") and Alpha. Alpha was not a participant in any discussions with the Maple proponents and has no further information on the Maple proposal than what has been publicly disclosed to date.
"We are a driving force in our industry, in the capital formation process in Canada, and in the overall Canadian economy's global competitive advances" stated Jos Schmitt, CEO of Alpha Group. "Alpha is an agent of change that has brought a competitive marketplace and a new level of maturity to the Canadian capital markets. That maturity is at the basis of the various developments that we see today. With the advent of the Maple proposal, we as an industry are now presented with multiple paths to move forward, and once a final choice is made there is no doubt in my mind that the journey will continue to be extremely exciting."
Since 2008, Alpha has been a successful catalyst of change in the Canadian capital markets industry, gaining over 20% of the combined TSX and TSX-V listed securities trading volume. Because of Alpha, the Canadian market is more efficient, trading costs have been reduced significantly, liquidity has increased and new, innovative technology and services have made our industry more competitive globally. Alpha will continue to champion these core principles, regardless of the path that will be chosen by the Canadian capital markets industry.
"From day one we have sought to redefine our entire industry for the better", continued Schmitt. "Our commitment to that vision is unwavering. Discussions on Alpha's corporate future are a shareholder matter. Therefore Alpha management will remain removed from the discussions and focused on executing our mandate and strategy."
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, 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.alpha-group.ca.
SOURCE Alpha Group
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