As of August 1st, 2013 Omega will be providing a rebate to trading participants on the ‘Active/Remove’ side of all lit equities transactions that take place on the Omega ATS continuous auction book. Omega’s ultra-low latency ThymeX™ matching engine ensures that all trades that take place on the remove side are rebated on a price/time priority basis. In the spirit of healthy marketplace competition, Omega will be offering the highest active-side rebate of any venue in Canada, across all equities facilitated, while ensuring the add-side is still affordable for liquidity providers.
In addition, as previously announced, the brand new Omega Mid-Point Peg (OMPP) order type, scheduled for live release on July 29th, 2013, will continue to be priced separately under our ‘hidden orders’ pricing schedule. On August 1st, 2013 Omega’s new pricing schedule will be as follows:
| Under $1.00 | At or Above $1.00 | |||
|---|---|---|---|---|
| Add | Remove | Add | Remove | |
| Omega Lit Book | $0.0010/Share | -$0.0007/Share | $0.0019/Share | -$0.0014/Share |
| Hidden 'Mid-Point' | $0.0002/Share | FREE | $0.0006/Share | FREE |
This competitive new pricing schedule is designed to incent liquidity providers that wish to interact with price sensitive liquidity consumers, while providing those consumers a method to offset overall trading costs such as Smart Order Router (SOR) development and implementation fees.
“Rebates have become the new standard for inverted markets” states Brian Crew, Omega’s CEO. Crew added “It is flattering that our competitors found it necessary to align their strategies with our pricing innovations in order to gain traction in the Canadian marketplace. As we have demonstrated in the past, we are committed to providing our subscribers a higher level of service at better prices in order to add value for our subscribers.”
Omega’s ‘Break-Point Program’ will still apply to all equities traded with discounts applied to the ‘Add’ side at a rate of 0.0001/share per tier on all shares traded within any given calendar month. Further, all intentional crosses are still completely free.
For more information regarding Omega’s new order types, pricing, or upcoming product releases, please contact us at:
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