March 1st 2010 - A day with multiple milestones
TORONTO, March 2 /PRNewswire/ - Alpha Group today announced that on March 1st 2010, for the first time since its launch in November 2008, the volume traded in TSX listed securities on Alpha ATS represented a market share of more than 30% across all Canadian transparent market places.
The market share in Exchange Traded Funds (ETFs) reached 52.3%; 10% higher than the second most active marketplace in these securities. In the benchmark index securities, Alpha's market share was very close to 30%.
In addition, the volume traded in TSX-V listed securities reached a market share close to 11%, and over 70 securities traded at the opening auction on Alpha. These included some of the most actively traded securities in Canada hence leading to a very substantial opening volume across the board.
Jos Schmitt, CEO of Alpha Group, noted "We are very pleased with achieving these new milestones. I am convinced that the recent changes to trading fees initiated by Alpha and followed suit by other marketplaces, were critical to this accomplishment. Besides making trading on Alpha more attractive from a cost perspective, it led many industry participants to take a close look at the trading fees they are paying across marketplaces and identify some major differences often hidden in the small print. The fact that Alpha does not charge for opening auction trades and provides a full rebate on iceberg orders represents millions of dollars of additional monthly savings to the industry that market participants can benefit from when trading on Alpha."
"These fee benefits combined with a higher likelihood of execution - as evidenced by Alpha's order to trade ratio and average trade size - are fuelling Alpha's growth and strengthening the competitiveness of our industry," added Mr. Schmitt. "And in line with our mantra - For the Industry, By the Industry - our fee structure benefits all market participants equally."
About Alpha
Alpha Group comprises the leading Alternative Trading System for Canadian listed 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.alphatradingsystems.ca.
SOURCE Alpha Group
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