Alpha venture trading system. Alpha Trading Systems Ltd. provides an alternative trading system. Its alternative trading system facilitates trading of listed equities in the Canadian capital markets. The company also distributes trading data; and provides trade through management application and technology related services. In addition, it operates as a.

Alpha venture trading system

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Alpha venture trading system. Alpha Venture Trading Systems1. AV. Canadian Mutual Funds. 6. CanDeal. CD. CNQ1. L. Instinet Chi-X Canada1. IC. Markets, Inc. MK. Montreal1. R. Pure Trading1. PT. TSX (formerly TSE)1. T. TSX/Forex1. TSX Venture Exchange1. V. Winnipeg Commodity . Russian Trading System-RTS. RS. Scandinavia. Exchange.

Alpha venture trading system


The subject who is truly loyal to the Chief Magistrate will neither advise nor submit to arbitrary measures. Alpha Group is seeking regulatory approval to become a full-fledged stock exchange, giving the up-and-coming share-trading market another way to attack the last vestiges of the TMX Group Inc.

Winning exchange status, which it hopes to have by year-end, would enable Alpha to win listings of its own, and with them the fees that companies pay. It would also, for the first time in Canada, create a system that could resemble the duelling markets in the United States, where companies can choose to list on the New York Stock Exchange or the Nasdaq Stock Market.

Created in by a group led by the country's largest banks, Alpha the next year launched what is known as an alternative trading system for stocks. With the attempt to move into listings, Alpha is trying to grab a share of each of the three main money-making businesses that TMX Group has in stocks. Listings have been lucrative for TMX, generating about a quarter of the company's revenue. Alpha first went after trading and the fees it generates, and now Alpha gets about 26 per cent of all trading in TSX-listed stocks, forcing TMX to cut its charges to compete.

Then Alpha launched a market data product that competes with the TMX's offering for customers who want to see stock quotes and other trading information. In listings, Alpha plans to compete on price, and with new products and services for companies that are interested in listing on a Canadian stock exchange, said Alpha chief executive officer Jos Schmitt.

Schmitt, adding companies have inquired about listing on Alpha. There is already competition in Canada at the level of smaller companies.

For example, the Toronto-based Canadian National Stock Exchange seeks to list "emerging companies" and has more than issuers. Alpha has a twin goal of making money and driving down costs for players in the market, in large part because some of the biggest players are Alpha's owners. It's that ownership structure that is likely to be one of the most contentious issues about the push for exchange status.

TMX Group is likely to raise conflict-of-interest concerns about any move by Alpha to get in on listings. That's because listings are a pseudo-regulatory area. Exchanges have to rule on whether companies are eligible to list shares, and on other moves by companies once they are listed, such as mergers and stock sales.

The concern would be that Alpha, because it is owned by brokerage firms, would have an incentive to allow listings or transactions that generate banking fees for the securities firms that are the market's owners. Tom Kloet, TMX Group's chief executive officer, has questioned whether the banks should be allowed to run a stock market, which he argued in December takes markets "back to the days when trading venues and exchanges were owned by select participants with conflicted interests and an ability to work in concert.

Schmitt said he doesn't buy that argument. He said the banks' stakes in Alpha are too small to influence their decision making. Schmitt said, adding that there would be checks and balances and regulatory scrutiny. Are we saying now that over the past two or three hundred years there was no integrity in that process? We have closed comments on this story for legal reasons.

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