Alpha Group Announces New Trading Fee Structure
By Alpha Group, PRNEThursday, January 21, 2010
TORONTO, May 26, 2010 - Alpha Group today announced that, subject to regulatory approval, it will
implement a new trading fee structure as of June 1st, 2010.
For securities with a value greater than or equal to $1 and less than $5,
active fees will be reduced from 35 mils per share to 25 mils per share and
passive fee rebates will be decreased from 31 mil per share to 21 mils per
share. This fee reduction positions Alpha as the market with the lowest
active fees in securities with a value greater than or equal to $ 1 and less
than $ 5 - a segment that represents about 20% of the overall volume traded
in Canada across all Canadian marketplaces.
For a dealer facing a majority of "taker" trades, this new fee schedule
represents close to 30% savings on these trades. This new fee schedule
combined with free opening trades, full rebates on iceberg orders and the
lowest active/passive ratio for dealers posting their resting orders on
Alpha, means that Alpha is the trading venue that stands for liquidity at the
lowest cost.
"We continue to execute upon our commitment of reducing the cost of
trading in Canada" noted Jos Schmitt, CEO of Alpha Group. "Finding the right
balance between the interests of all our constituents drives our strategy.
Now that our volume, our order to trade ratio and our average trade size have
demonstrated Alpha's unparalleled liquidity, it was time again to address the
cost issue. And in line with our mantra - For the Industry, By the Industry -
these new benefits are available to all dealers without any restrictions."
About Alpha Group - Alpha Group comprises the leading Alternative Trading
System for Canadian Securities - Alpha ATS, and a data distribution plant for
Alpha ATS market data. Alpha Group was established in May, 2007 by nine of
Canada's leading financial institutions with the aim of increasing the
country's securities trading efficiencies and making the Canadian marketplace
more globally competitive. Established for the Industry, by the Industry, the
Alpha Group focuses on increasing liquidity, reducing the cost of trading and
providing innovative services leveraging its unique expertise, operating
model and technological capabilities.
For further information regarding Alpha Group, visit
www.alphatradingsystems.ca.
For further information: Kate McGrogan, +1-647-259-0414,
kate.mcgrogan@alphatradingsystems.ca/
For further information: Kate McGrogan, +1-647-259-0414, kate.mcgrogan at alphatradingsystems.ca/
Tags: Alpha Group, canada, May 26, Toronto