Alpha Alternative Trading System has filed with the Ontario Securities Commission to obtain the status of a recognized exchange, Alpha Group announced Thursday.

It’s “the logical next step for Alpha” the firm said, and will allow the alternative marketplace to compete on a level playing field with its main competitor, the Toronto Stock Exchange.

Obtaining status of a recognized exchange will allow it to expand its business into new areas such as the listing business, and the ability to support market making, Alpha said.

“We brought true competition to the equities trading landscape in Canada,” say Jos Schmitt, CEO of Alpha Group, adding that issuers and investors have benefitted from Improved liquidity and efficiency and substantial fee reductions.

“The growing interest from foreign investors, market participants and issuers to leverage the Canadian capital markets is a testimony to the fact that our industry has become more competitive globally,” Schimtt adds.

“We are convinced that the global competitiveness of our industry overall requires us to bring true competition in areas other than trading,” adds Schmitt.

“The exchange status will allow us to bring competition in new areas such as the listing business,” he concludes.

Alpha Group was established in May, 2007 by nine of Canada’s leading financial institutions with the aim of increasing the country’s securities trading efficiencies and making the Canadian marketplace more globally competitive. It comprises an Alternative Trading System for Canadian listed securities (Alpha ATS), and a data distribution plant for Alpha ATS market data.

IE