Omega ATS, the Canadian trading venue has announced it has extended fee-free trading of fixed income instruments and listed debentures. The ATS will also allow brokers to match internal crosses free of charge indefinitely. The announcement follows the alternative trading system's December 2010 move to become the first protected market place in Canada to trade liquid unlisted fixed income instruments.
President of Omega ATS, Mike Bignell comments: "We're genuinely interested in creating a more cost effective and efficient market in Canada and one of the steps in doing so was to become the only marketplace to offer fixed income trading at a reasonable fee. By offering a fee holiday on debt securities we hope to increase interest in trading these instruments transparently, facilitating a revolution in the Canadian marketplace by equipping investors with visibility they are unable to get with any other venue."
Unlisted fixed income instruments and listed debentures have been free to trade since Omega first added them to the roster in December 2010. The fee holiday, which was originally scheduled to end on January 1 2011, has been extended through February 15 2011. When the venue introduces fees, it will be at the reduced rate of $5 CDN per $100,000 CDN principal on the active take side and free for liquidity providers.