Omega Securities Inc. (OSI) is pleased to invite all subscribers and vendors to test Omega ATS’s new Odd-Lot Book in our Global Test Environment (GTE). This new facility scheduled to go live on October, 31, 2013 – We welcome all Omega ATS participants to try out our new service prior to the official launch.
The new Odd-Lot Book is a continuous auction market that is not constrained by the order protection rule, and as a result, flows freely for all share allocations that are less than one standard trading unit. Standard trading units are determined on a symbol by symbol basis, and are based on the previous day’s closing price on the TSX:
- For securities with a closing price $1.00 or above, a standard trading unit is 100 shares
- For securities with a closing price $0.10 to $0.99, a standard trading unit is 500 shares
- For securities with a closing price less than $0.10, a standard trading unit is 1,000 shares
One of the benefits of Omega ATS’s new Odd-Lot Book is that Omega ATS will now accept ‘Mixed-Lot’ orders (orders that are greater than one standard trading unit with an Odd-Lot portion). Participants will not be required to split Mixed-Lot orders as our matching technology has been designed to separate the order and book the standard trading unit(s) to the Omega ATS book while simultaneously adding the odd-lot portion to the Odd-Lot Book.
Another benefit to this new service is price. All odd-lot orders executed on this book will be charged a pass-through fee of $0.001/share. This pricing should represent significant savings over what other odd-lot facilities currently offer, and should help to reduce overall trading costs for all Omega ATS subscribers.
The integration of this new service will require little to no effort from our subscribers as there are no additional FIX tags required to enter odd-lot/mixed-lot orders. Market data vendors and service bureaus are encouraged to disseminate these orders independently, by lot size.
For more information regarding the Omega ATS Odd-Lot Book please email us at:
or visit our website at:
