Omega ATS increases hours, alters fees

Last Thursday, Omega ATS expanded its trading hours. It now opens at 8:30 a.m. ET (instead of 9:30 a.m.) and closes at 5 p.m. ET (instead of 4 p.m.). According to Sean Debotte, Omega's director of business development, this is all part of Omega's plan to gain market share. He says Omega's volume in TSX-V-listed securities has been increasing since May 1, the day the ATS introduced maker-taker fees, meaning it added rebates for the passive side (the seller). In April, Omega traded 147 million shares of TSX-V listed securities. That number increased to 198 million in May when Omega began charging the active side (the buyer) 0.08 of a cent and rebating the passive side 0.06 of a cent for TSX-V stocks under $1. For TSX-V stocks over $1, Omega began charging the active side 0.2 of a cent and rebating the passive side 0.16 of a cent. Before May 1, the ATS charged only the active side for both TSX-V-listed and TSX-listed stocks -- 0.02 of a cent for stocks under $1 and 0.07 of a cent for stocks over $1. Those fees still apply for TSX-listed securities.

by Stockwatch Business Reporter