Alternative trading system Omega Securities Inc. has announced that regulators have approved a new trading fee model that will impose a monthly cap on trading costs on its Lynx ATS marketplace.
Under the new model, adding liquidity is free and removing liquidity costs 0.02¢ per share.
Toronto-based Omega said that the new pricing model, which caps the monthly fee for removing liquidity at $5,000 (amounting to 25 million shares), will enable dealers to better control their costs.
“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,” said Paul Romain, head of market structure and chief compliance officer at Omega.
“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,” added Laurence Rose, chairman, president and CEO of Omega.