Alpha Group, the combination of Alpha ATS L.P. - the Alternative Trading System (ATS), and Alpha Trading Systems Limited Partnership - the related services organization, today confirmed its intent to launch the ATS in September 2008.
It also announced the fee strategy that will be adopted for trading, data and trade-through management (TTM) services.
"The fact that very competitive trading fees will be charged to all participants without differentiation based on the size of the dealer firm or its trading volumes, and the fact that no fees will be charged for the TTM services, will allow trading to take place on a level playing field basis for all dealers and will provide considerable benefits to the industry as a whole," said Alpha CEO Jos Schmitt.
Another element of Alpha Group's fee strategy relates to the fees for market data. Mr. Schmitt announced that "Alpha will provide its market data without charge until such time as Alpha achieves a 20% share of trading volume in Canada. The industry should not be bearing a cost for market data until critical mass has been achieved," added Mr. Schmitt.
These announcements provide the first indication of Alpha Group's plans to attract trading activity to its ATS. "Alpha has a mandate to provide, in an efficient way, value-added services benefiting Canada's capital markets and helping strengthen its position on the international scene," Mr. Schmitt continued.
The trading services will be provided utilizing a low latency and highly scalable trading application residing on a high-availability platform.