Omega ATS
Trading Fees
Effective March 1, 2024
Marketplace Subscriber Fees
All Tradelogiq marketplace subscribers are subject to a subscriber fee of $750 per month, which includes access to both Omega ATS and Lynx ATS.
Omega Transaction Fees
All transaction fees are charged on a fee per share basis unless otherwise noted.
All Equities Including ETFs
| Trades Priced Under $1 | Trades Priced $1 and Over | ||||
|---|---|---|---|---|---|
| Active | Passive | Active | Passive | ||
|
Regular Rates: Retail Non-Retail |
($0.0007) ($0.0007) |
$0.0011 $0.0011 |
($0.0027) ($0.0023) |
$0.0030 $0.0030 |
|
| Unintentional Crosses | Free | Free | Free | Free | |
| Midpoint | Free | $0.0002 | Free | $0.0006 | |
Notes:
- Retail rates apply to trades executed by a Trader ID identified by the subscriber as an ID through which orders originating from a “Retail Client” (as defined in the rules of the Canadian Investment Regulatory Organization) are sent, and excludes Trader IDs associated with a direct electronic access (DEA) arrangement or routing arrangement (RA) client unless such DEA or RA client is an investment dealer or a broker / dealer located in a non-Canadian jurisdiction, and the orders being sent through the Trader ID are retail client orders for which the DEA or RA client is acting as “agent”. In order for the retail rates to apply, subscribers must have submitted the required Retail Trader ID Certification Form.
- Unintentional cross rates (a) apply only where both sides of the trade are attributed and (b) take precedence over midpoint rates for midpoint trades that are attributed unintentional crosses.
- The above unintentional cross rates apply unless the subscriber has elected to have its unintentional cross trades charged active rebates and passive fees at different rates, so long as the net fee for any particular unintentional cross is zero. Such election may be made for unintentional crosses on a subscriber-wide basis, or based on a specified list of the subscriber’s Trader IDs. Where based on a list of Trader IDs, the elected rates will only be applied where the election was made for the Trader IDs on both sides of the trade, otherwise each side of the trade will be charged at the default unintentional cross rates (i.e., free each side).
Odd Lots and Listed Fixed Income
| Active | Passive | |
|---|---|---|
| Odd Lot | Free | Free |
| Listed Fixed Income | $0.095 / $1,000 par value | ($0.085) / $1,000 par value |
Omega ATS Liquidity Provision Program
Omega ATS offers subscribers the opportunity to receive discounts from the above “regular rates” on passive trades executed by the subscriber or its clients. Application of the discount is limited to trading by pre-approved Trader ID groups, and the amount of the discount provided for a Trader ID group will be based on the eligible passive volume traded on Omega ATS by the Trader ID group exceeding pre-defined percentage thresholds of total Canadian continuous traded volume (TCCV) for the month. The thresholds and discounts are as follows:
| Tier | %TCCV Threshold | Discount on Regular Passive Rates | |
|---|---|---|---|
| Under $1 | $1.00 and Over | ||
| 1 | 0.25% | $0.0001 | $0.00015 |
| 2 | 0.50% | $0.00015 | $0.000225 |
| 3 | 0.75% | $0.0002 | $0.0003 |
Notes:
- Only Trader ID groups that have been approved by Tradelogiq are eligible for the discount. Subscribers must first complete a form identifying the one or more Trader IDs comprising each Trader ID group. The form is available upon request.
- A Trader ID group may include one or more Trader IDs. Trader IDs associated with a direct electronic access arrangement or routing arrangement client may only be grouped together with TraderIDs for the same single underlying client, or with the TraderIDs of an affiliated entity under common beneficial ownership carrying out similar trading activities.
- Trader IDs can also be aggregated across Omega ATS subscribers for the purposes of comprising a Trader ID group.
- The eligible passive volume of a Trader ID group that will be assessed against TCCV will include all passive traded volume by the Trader ID group on Omega ATS, other than passive volume associated with intentional crosses, odd lots and listed fixed income.
- TCCV for the month is calculated based on total continuous trading volume across all Canadian-listed equities and ETFs on all Canadian marketplaces for the month, excluding listing market opening and closing auctions, intentional crosses, and odd lots.
- The tier achieved by a Trader ID group for a given month determines the discount level to be applied to passive trading by the Trader ID group for that month that is otherwise subject to the regular passive rates. The discount is applied to all such passive trading, not just on the incremental volume in excess of each tier threshold. While the level of discount to be applied differs based on the price of security, the tier is assessed based on trading across both price categories.
Intentional Crosses
Omega ATS pays rebates for eligible intentional crosses according to the schedule below.
| Rebate | |
|---|---|
| All equities and ETFs | $0.000125 / share |
| Listed fixed income | $0.00125 / $1,000 par value |
Notes:
- Eligible intentional crosses are subject to a $225 cap per cross.
- The total amount to be paid for eligible intentional crosses in any given month will be capped at $25,000. The monthly cap is applied after determining the cumulative total of earned rebates for each cross, in order of receipt, and taking into consideration the per cross cap. The application of the monthly cap is not affected by the total number of shares crossed in the month.
- Eligible intentional cross volume that is not eligible for a per share rebate because of the application of the per cross cap or monthly cap is free.
- An “eligible intentional cross” is a board lot or mixed lot intentional cross for any security traded on Omega ATS, and includes any intentional cross type. Eligible intentional cross volume will be single-counted for the purposes of the determination and payment of the rebate.
- Intentional crosses entered with an odd lot quantity are not eligible for a rebate. These intentional crosses are free.
Technology Fees
The following technology fees are charged for client connectivity and for access to Omega ATS and Lynx ATS trading and recovery services.
Subscribers are responsible for arranging and paying for connectivity. Subscribers wishing to cross-connect will be charged the below cross-connect fees which incorporate the amounts charged to Tradelogiq by our data centre provider.
| 1 Gigabyte Connectivity |
$1,000 per month One-time set-up fee of $1,000 per connection |
| 10 Gigabyte Connectivity |
$1,500 per month for the first connection $1,000 per month for each additional connection One-time set-up fee of $1,000 per connection |
| General Testing Environment | No charge |
| FIX Drop Copy Connection | $450 per month |
| Trading Session Bundle (10 free)* | $125 per month |
| Multicast access and recovery | See “Data Feed Access Fees” in the Tradelogiq Market Data Fee Schedule |
*Subscribers are provided 10 production session bundles for accessing Omega ATS and Lynx ATS, free of charge. If a subscriber requires additional sessions, this fee will apply.
