Alpha Group receives regulatory approval of Alternative Trading System

Published Wednesday August 27th, 2008

THE CANADIAN PRESS

TORONTO - Alpha ATS, a privately-held trading system owned by the big Canadian banks and scheduled to launch next month, has received approvals from the Ontario Securities Commission and the Investment Industry Regulatory Organization of Canada.

The trading system says both its application for registration as an alternative trading system and for dealer and marketplace membership have been approved, paving the way for its launch.

"We look forward to working together with both OSC and IIROC to ensure that Alpha ATS's operations will provide new and innovative execution options which will provide additional efficiencies to Canada's investment industry and will be of benefit to the industry, the investors and the issuers," said Randee Pavalow, Alpha ATS' head of operations.

Alpha ATS, a member of the Alpha Group, is set to launch trading activities on Sept. 26.

The system will be a competitor to the TMX Group Inc. (TSX:X), the operator of the Toronto Stock Exchange.

Please Log In or Register FREE

You are currently not logged into this site. Please log in or register for a FREE ONE Account.

Logged in visitors may comment on articles, enter contests, manage home delivery holds and much more online. Your ONE Account grants you access to features and content across the entire CanadaEast Network of sites.