On September 19th, 2013 the Omega Securities Inc. (OSI) received a notice of approval from the Ontario Securities Commission (OSC) regarding the proposed initial operations of a second alternate trading system – Lynx ATS.
Lynx ATS will be Canada’s first and only trading venue with absolutely no subscription fees, market data fees, or connectivity fees. Lynx ATS subscribers will enjoy the only pay-as-you-go trading venue! OSI intends to deploy a maker/taker style pricing model on the new venue with rebates paid to the passive side of all equities transactions and fees charged to the active side. Further, this new facility will offer all of the speed, functionality, matching priority, and order type flexibility as Omega ATS.
OSI anticipates that Lynx ATS will be available for testing in our Global Test Environment (GTE) by the middle of October 2013 and we will be announcing an official production launch date shortly after testing has begun. Further, OSI will be distributing new Subscriber Agreements to all members that includes the option to become a Lynx ATS subscriber at absolutely no cost.
“We wanted to offer the Canadian trading community the lowest total cost marketplace in the Industry. The only way to compete effectively was to diversify our offering and level the playing field through liquidity providing incentives,” states Brian Crew, President and CEO of OSI. Crew continued, “It has become abundantly clear that other existing marketplaces have no plans to reduce the number of trading venues they operate, despite the lack of diversity offered within its venues. OSI will take the initiative and apply the necessary competitive pressures, in an effort to evoke cost savings for the Canadian trading community.”
For more information on Lynx ATS please contact us directly at:
[email protected]
