Alpha Trading Systems
|Alpha Trading Systems|
|Key People||Jos Schmitt, CEO|
Alpha Trading Systems is a Canadian-based Alternative Trading System (ATS), launched in the fall of 2008. It challenges the dominance of the TSX Group in the domestic cash equities business. During the month of April, 2009, more than 725 million shares were traded over Alpha, and the exchange experienced a staggering 300 percent increase in daily trades over the course of the month.
The venture – initially known as Project Alpha – was announced on May 3, 2007 by units of seven of Canada’s major investment dealers: BMO Capital Markets, Canaccord Capital, CIBC World Markets, National Bank Financial, RBC Capital Markets, Scotia Capital and TD Securities.
Existing ATS – including Liquidnet Canada, Perimeter Financial's BlockBook and Omega ATS, TriAct's Match Now and Pure Trading have around 10 percent of Canada’s electronic equity-dealing market. Instinet also plans to launch its Chi-X Canada unit in 2008.