TORONTO, Feb. 17 /PRNewswire/ - Alpha Group today announced that, subject to regulatory approval, a new trading fee for securities with a value below $1 will be implemented as of March 1st, 2011.
For trading in all TSX and TSX-V listed securities with a value lower than $1, active fees on Alpha will be reduced from $0.0004 per share to $0.0003 per share and passive fee rebates will remain unchanged at $0.0002 per share. With this fee change Alpha reduces the net fees it charges to the industry in this retail intensive segment by 50% to $0.0001 per share. Net fees charged by its competitors for securities with a value lower than $1, range from $0.0002 per share to $0.0003 per share.
"Alpha Group has an unwavering commitment to reduce the cost of trading in Canada," noted Jos Schmitt, CEO of Alpha Group. "The true beneficiaries of this fee change will be the Canadian retail brokers and ultimately the Canadian retail investor. Bringing the net fees in this segment to the levels applied in the U.S. is made possible by the efficiencies of our business model and of our technology. Today, more than ever, the Canadian markets need a strong Canadian anchored marketplace that fosters competition and stands for Canadian interests. Alpha will continue to execute upon its strategy to reduce the cost of trading, reduce the cost of market data and improve the quality and liquidity of Canadian markets."
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.alpha-group.ca.
SOURCE Alpha Group