Alternative trading system Omega ATS is proposing a number of changes to its operations, including the ability to trade Canadian debt and U.S. securities.

Friday’s OSC Bulletin announces a series of proposed changes at the ATS, including the introduction of several new order types designed to allow crossing trades on the marketplace, and the introduction of pegged orders.

In addition, Omega is proposing to introduce trading in unlisted Government of Canada debt securities and listed and unlisted Canadian corporate debt, as well as trading in securities listed on the New York Stock Exchange, Nasdaq and the American Stock Exchange.

“Trades of over the counter debt securities through Omega ATS will allow wider access to pricing information and will greatly enhance market transparency,” the notice says. And, it notes that the addition of trading in U.S. securities will provide a Canadian venue for trading these securities in Canadian dollars; which, it says, will give subscribers the ability to trade these securities directly “without having to perform an additional foreign exchange transaction”.

The proposed introduction of crosses, “will allow subscribers to move large volume blocks between accounts without being subject to interference from other orders”, it notes, adding that this will also “enhance marketplace transparency.”

The notice adds that pegged orders will allow, “a passive market presence on the book regardless of price without driving the market.”

The notice says that the firm intends to implement these changes in the fourth quarter. Any comments on the proposals are due by October 4.