TORONTO, Dec. 2, 2019 /CNW/ - Omega Securities Inc. ("Omega") is pleased to announce that it has received regulatory approval effective today to implement new pricing for its Lynx ATS marketplace. Lynx trades all listed securities on the TSX, TSX Venture Exchange, and CSE.
The new pricing model, which for the first time incorporates a monthly fee cap, gives the Canadian dealer community the ability to control their overall trading costs. Adding liquidity to the Lynx book will be free and removing liquidity will be charged at $0.0002/share across all listed securities. In addition to this simple pricing mechanism, we are pleased to offer Lynx subscribers a cap on remove fees. The cap is set at 25 million shares per month, which means the maximum a subscriber will pay in any given month is $5,000. After the cap is reached all additional trading will be free for the remainder of that month.
We believe this pricing structure provides a compelling value proposition. With recent developments of retail commissions in the US being charged at zero and regulators looking to gather data and analyze rebate models more closely, the new Lynx pricing allows dealers the ability to control their overall trading costs. The combination of the cost certainty pricing in the Lynx ATS and Omega ATS's inverted rebate helps our dealer clients lower the cost of trading for all market participants in Canada.
Paul Romain, Head of Market Structure and Chief Compliance Officer at Omega commented: "This new simple pricing model for the Lynx ATS will enable marketplace participants to reduce their trading costs and reflects the evolution of the Canadian equity market."
"We are pleased to introduce this new pricing for the Lynx ATS and excited to see our subscribers take advantage of it. The data analytics we will be able to produce will also create valuable insights for our industry. We look forward to working closely with our subscribers as we roll out the new pricing model," remarked Laurence Rose, Chairman, President and Chief Executive Officer of Omega.
About Omega Securities Inc.
Omega Securities Inc., an IIROC member firm, is the operator of two lit marketplaces: Omega ATS and Lynx ATS. These two marketplaces offer a venue for the facilitation of trading in Canadian listed securities, such as equities and listed fixed income. Omega's marketplaces account for more than six percent of all Canadian equities trades on a daily basis and provide a cost-effective and efficient method for the Canadian broker/dealer community to execute transactions on behalf of their clients. Omega plans to add a digital asset marketplace to its offerings in Ontario. For more information about Omega Securities Inc., please email [email protected].
SOURCE Omega Securities Inc.
For further information: Laurence Rose, Chairman, President and Chief Executive Officer, Omega Securities Inc., [email protected], (647) 920-6383