TORONTO, Jan. 26, 2011 /PRNewswire/ -- Omega ATS, the low cost, low latency alternative trading venue in Canada, has today announced it has extended fee-free trading of fixed income instruments and listed debentures. The ATS will also allow brokers to match internal crosses free of charge indefinitely in an aggressive pricing model that challenges Omega's competitors. The announcement follows the alternative trading system's December 2010 move to become the first protected market place in Canada to trade liquid unlisted fixed income instruments.
President of Omega ATS, Mike Bignell comments: "We're genuinely interested in creating a more cost effective and efficient market in Canada and one of the steps in doing so was to become the only marketplace to offer fixed income trading at a reasonable fee. By offering a fee holiday on debt securities, we hope to increase interest in trading these instruments transparently, facilitating a revolution in the Canadian marketplace by equipping investors with visibility they are unable to get with any other venue."
Unlisted fixed income instruments and listed debentures have been free to trade since Omega first added them to the roster in December 2010. The fee holiday, which was originally scheduled to end on January 1 2011, has been extended through February 15 2011. When the venue introduces fees, it will be at the reduced rate of $5 CDN per $100,000 CDN principal on the active take side and free for liquidity providers, making Omega the most inexpensive and competitively priced trading venue in the marketplace.
Omega ATS remains the most aggressively priced and fastest growing trading venue in the Canadian marketplace. The trading venue's volumes increased by more than 750 percent in 2010 and further growth is expected. The company continues to invest in new technologies and plans to add several new instrument categories, products and innovative trade types throughout 2011.
About Omega ATS
Omega ATS is an alternative trading system for Canadian exchange-listed equities. It provides a fast, price/time priority trading platform where dealers and their clients can trade at the CBBO (Canadian Best Bid and Offer) at extremely competitive rates. It has more than 70 subscriber firms including Canada's five largest dealers. The system is designed to maximize internal order processing speed – minimizing the time between when an order is received and an acknowledgement is sent. The company rewards liquidity providers with time priority over other marketplaces and is committed to keeping its marketplace fees as low as possible. For more information, please visit www.omegaats.com.
SOURCE Omega ATS