Omega Securities Inc. announces the filing of a Form 21-101F2 to obtain approval to operate a marketplace for digital assets in Ontario, and 4C Clearing Corporation announces that it has made a proposal to operate as a clearing agency to the Ontario Securities Commission

TORONTO, May 28, 2019 /PRNewswire/ - Omega Securities Inc. ("Omega") and 4C Clearing Corporation ("4C") today announced that they have each filed materials with the Ontario Securities Commission to launch a complete end to end digital asset alternative trading system ("ATS"), clearing, settlement, and custody platform specifically targeted at the regulated investment dealer market.

Omega has operated a regulated ATS since 2007. The filing of this F2 extends Omega's business into the digital asset space. Omega is a protected marketplace and fully connected to the dealer community in Ontario. Extending the business to digital assets is a growth strategy that will leverage the existing Omega platform.

Omega's digital asset marketplace will utilize Omega's institutional level matching engine and allow investment dealers to trade digital assets in the same way as they currently trade equities.  This will allow dealers to quickly add eligible digital assets to their existing trading platforms for both retail and institutional clients. The net result of our solution is that the retail investing public will now be able to use their existing brokerage accounts with participating dealers to trade eligible digital assets without the need to move funds out to unregulated entities. This will for the first time allow retail clients to hold eligible digital assets such as Bitcoin and approved Security Token Offerings (STOs) in the same account as stocks, bonds, ETFs and mutual funds.  

4C Clearing Corporation is seeking approval to provide clearing, settlement and custody services for digital assets to regulated investment dealers and other market participants in Ontario. Custody of digital assets has been a major issue slowing the adoption of digital assets with regulated investment dealers and institutions. This solution will give the investment community the ability to custody digital assets much like they do today in the regulated securities market. In the digital asset space, having a custody solution that does not touch the public Internet and has a secure cold storage component will give clients of 4C the safety and security they demand.

"We continue to move our digital asset marketplace and our clearing, settlement and custody solution for regulated investment dealers forward. The filing of Omega's F2 and 4C's request to operate as a clearing agency are natural next steps. We continue to receive support and positive feedback from the regulated investment dealer community and look forward to launching the platform in due course", remarked Laurence Rose, Chairman of Omega Securities Inc. and Co-Founder, President and Chief Executive Officer of 4C.

Stikeman Elliott LLP is acting as legal counsel to Omega and 4C.

About Omega Securities Inc.
Omega Securities Inc., an IIROC member firm, is the operator of two lit marketplaces: Omega ATS and Lynx ATS. These two marketplaces offer a venue for the facilitation of trading in Canadian listed securities, such as equities and listed fixed income. Omega's marketplaces account for more than five percent of Canadian equities trading and provide a cost-effective and efficient method for the Canadian broker/dealer community to execute transactions on behalf of their clients. Omega plans to add a digital asset marketplace to its offerings in Ontario. For more information about Omega Securities Inc., please email [email protected].

About 4C Clearing Corporation
4C Clearing Corporation intends to provide clearing, settlement and custody services for digital assets to regulated investment dealers and other market participants in Ontario. 4C will act as a central clearing counterparty for all transactions conducted by its members via any connected approved digital assets marketplace. 4C will support daily net settlement for digital assets, a capital efficient and unique offering in the digital asset space. 4C will also provide a safe and secure cold storage custody platform for digital assets, which has been designed specifically for the regulated investment dealer market to enable them to have trust and confidence in their digital asset holdings for their own accounts and those of their clients. For more information about 4C Clearing Corporation, please email [email protected].

SOURCE Omega Securities Inc.