Matchpoint Financial Corp. has acquired controlling interest in Omega ATS Inc., which operates two alternative trading system marketplaces, the firms said Tuesday.
Matchpoint is now the controlling shareholder of Omega, whose IIROC member firm Omega Securities Inc. operates Omega ATS and Lynx ATS. The two marketplaces account for more than 5% of Canadian equities trading and “provide a cost-effective and efficient method for the Canadian broker/dealer community to execute transactions on behalf of their clients,” a release said.
Laurence Rose, former chairman and CEO of Cantor Fitzgerald Canada Corporation and founder of Canada’s first alternative trading system, CBID Markets Inc., is Matchpoint’s chairman and CEO.
Financing for the acquisition was provided by Grand Slam Investments Inc., and the ownership group also includes former CIBC World Markets head of electronic trading and prime brokerage Martin Piszel, the release said.
“Omega was founded on the principles of Canadian-led innovation in capital markets and delivering the highest quality execution services for its clients,” Rose said in a statement.
“We expect to continue this mission and be a focused, entrepreneurial innovator in the ATS space.”