Here is some additional detail about our fee model and all fees charged by Tradelogiq Markets Inc. for the Omega ATS marketplace, including any additional parties to whom services have been directly or indirectly outsourced, including, but not limited to, fees relating to connecting to the market or facility, access, data, regulation (if applicable), trading, routing, and co-location, how we set those fees and any fee rebates or discounts and how we determine these.

In real time, in conjunction with the execution of each share the Omega ATS reports the per share rate using the standard fix tags 12 (commission) and 13 (commission type). Following each execution participants receive the quantity, fee level and the active or passive status of each fill. This information enables vendors to calculate and display their clients’ fees in real time on a per trade and per share basis.

In order to simplify reconciliation and billing, Tradelogiq prepares for activity on the Omega ATS and provides a monthly invoice, blotter and statement.

This monthly information package allows all Participants to reconcile activity on all shares traded at all levels. All billing information is routed to participants and can be broken down by each firm; as a whole; by individual trading ID; by tier; by share at each tier; and by active versus passive.  The trade blotter and trader summary is submitted as an excel file to allow subscribers to manipulate the information to compare it with their internal systems.

ALL EQUITY VOLUME INCLUDING ETF VOLUME traded on our Omega ATS will be applied to the Monthly Total Volume for the calculation of tier levels for the pricing of listed securities and listed exchange traded funds.

For the Omega ATS, Tradelogiq pays a capped rebate of CDN$25,000 for equity shares crossed on the Omega ATS in a given month. A rebate of CDN$0.000125/Share will be paid to participants for monthly participant-crossed total equity volume of less than or equal to 200,000,000 shares.

For monthly participant-crossed total equity volume greater than 200,000,000 shares, the total pool of CDN$25,000 will be distributed on a prorated basis.

For months with participant-crossed total equity volume greater than 200,000,000 shares, the total pool of CDN$25,000 will be distributed on a prorated basis.

Monthly crossed volume only applies to Intentional Crosses* and Internal Crosses* as defined by UMIR. All crosses on the Omega ATS are bypass, thus Internal Crosses are marked as Bypass Internal Crosses. Cross volume will not be double counted, and will be counted as just one side of a cross.

*“intentional cross” means a trade resulting from the entry by a Participant or Access Person of both the order to purchase and the order to sell a security, but does not include a trade in which the Participant has entered one of the orders as a jitney order.

“Internal cross” means an intentional cross between two accounts which are managed by a single firm acting as a portfolio manager with discretionary authority to manage the investment portfolio granted by each of the holders of the accounts and includes a trade in respect of which the Participant or Access Person is acting as a portfolio manager in authorizing the trade between the two accounts.

The Omega ATS matches attributed visible liquidity orders originating from the same broker at the best bid or offer, superseding the time at which other broker’s orders are entered. Omega ATS matches attributed hidden orders originating from the same broker at the best bid or offer, superseding the time at which other brokers’ hidden orders are entered. All visible orders retain priority to hidden orders at the best bid or offer.

All orders executed though Broker Preference will have no fee either passive or active.

Exchange Traded funds are treated as all other equity crosses.

For unlisted debt instrument transactions (corps, governments, etc.), a 0.05 per $ 1,000.00 face value is charged to the “active” (“take”) side. No charge is applied to the passive side.

For listed debenture transactions, $ 0.095 per $1,000 face value is charged to the “active” (“take”) side. A rebate of 0.085 per $ 1,000 face is paid to the passive liquidity provider.

No fee is charged for orders placed in the Omega ATS that do not execute.

As a subscriber, you are responsible for arranging and paying for your own connectivity.

As a convenient option, subscribers can, for a fee, arrange for 10 Gigabyte connectivity to either of Tradelogiq Markets Inc.’s data centers. Both centers are cross-connected to each other with 10 Gigabyte connections. 10 Gigabyte connectivity provides connectivity to both Omega and Lynx ATS’.

Subscribers may use one of the following two payment methods:

Omega Pre-Authorized Debit – The commission owing on account in each calendar month is debited from a bank account designated by the subscriber on the tenth business day following month-end.

 CDS Pre-Authorized Debit – The commission owing on account in each calendar month is debited by CDS from an account designated by the subscriber on or about the ninth business day following month-end.

¹ This free monthly subscription fee includes ten free FIX sessions per month.  For example, a subscriber with three FIX sessions would not be charged a Monthly Subscriber Fee or a FIX session fee. The monthly invoice from Tradelogiq, with the exception of trading fees, will be $0.00 in this example.

² This is purely a pass-through of Omega ATS’s out-of-pocket cost.

Tradelogiq Markets Inc. charges for its real-time market data on the following terms:
-$8.00 per month per user for “top of book” real time data (“Level 1”)
-“full depth of book” (Level 2) real time data is currently subject to a fee holiday

 Non-Display Fees

The Non-Display fee applies when Omega ATS and Lynx ATS market data is consumed by an application that is not for display use.  Applications will be classified as either being for Trading or Analysis purposes. For example, an algorithmic trading application that generates orders in an automated fashion, would be classified as Trading usage. Analysis usage is any other application that does not directly generate orders. The Non-Display fee is charged to the signing entity (firm level) and not based on the total number of applications.

Note: Subscribers must subscribe to Level 1 in order to receive Level 2

Data Feed Access Fees

The Data Feed Access fee is applicable to any Data Recipient receiving an Omega and/or a Lynx Market Data feed directly through Tradelogiq or indirectly through a data distributor. The access fee would be based on the total number of feeds to each physical location. 

Note: Subscribers must subscribe to Level 1 in order to receive Level 2

Redistribution Fees

The Redistribution Fee is only applicable to those data recipients that further redistribute Omega ATS and Lynx ATS data to external third parties.  For example, market data vendors would be subject to this fee.