Tradelogiq Markets Inc. is pleased to announce the introduction of a new liquidity provision program (“LP Program”) for Omega ATS that will replace the existing Breakpoint Pricing program. The new LP Program is designed to better incent liquidity provision on Omega ATS through higher discounts, more accessible trading activity tiers, and improved alignment between activity and rewards. This should further strengthen the depth and breadth of liquidity on Omega ATS, and also result in better execution quality and lower trading costs for dealers that route their active order flow to Omega ATS.
Tradelogiq has filed the related changes to its fee schedule and, subject to regulatory approval, Omega ATS will introduce the LP Program on October 1, 2022.
The new LP Program will continue to allow participants to earn reductions in their provision costs by meeting certain trading thresholds, but will incorporate the following key changes:
| CURRENT - Breakpoint Pricing | NEW - LP Program | |
|---|---|---|
| Eligibility for discount | All subscribers are automatically eligible. | Eligibility is open to all subscribers but is measured at a Trader ID group level to better incent and reward liquidity provision. |
| Threshold basis |
Static volume levels Base: 0-99M shares Tier 1: 100M-199M shares Tier 2: 200M+ shares |
Percent of “Total Canadian Continuous Volume” Base: <= 0.25% TCCV Tier 1: > 0.25% TCCV Tier 2: > 0.50% TCCV Tier 3: > 0.75% TCCV |
| Discount on regular passive rates |
Under $1 Tier 1: $0.0001 Tier 2: $0.0002 $1 and over Tier 1: $0.0001 Tier 2: $0.0002 |
Under $1 Tier 1: $0.0001 Tier 2: $0.00015 Tier 3: $0.0002 $1 and over Tier 1: $0.00015 Tier 2: $0.000225 Tier 3: $0.0003 |
The base trading fees on Omega ATS for equities and ETFs (before LP Program discounts) will remain unchanged at:
| PASSIVE < $1.00 | ACTIVE < $1.00 | PASSIVE >= $1.00 | ACTIVE >= $1.00 | |
|---|---|---|---|---|
| Regular Rates | $0.0010 | ($0.0006) | $0.0030 | ($0.0025) |
| Unintentional crosses | Free | Free | Free | Free |
| Midpoint | $0.0002 | Free | $0.0006 | Free |
Additional details regarding the new LP Program, including program eligibility, are included here.
Subscribers wishing to identify groups of Trader IDs will be required to complete and submit the Subscriber Participation Form.
Should you have any questions, please direct them to [email protected].
Regards,
