Bignell confident ATS can take market share away from much bigger rivals
TMX Select is expected to compete head-on with rival alternative trading systems such as Chi-X Canada and Alpha Trading Systems
Group says bid will preserve Canadian governance, decision-making and regulatory oversight of Canadian exchanges while allowing TMX to pursue strategic opportunities internationally
Revised proposal published for comment
Alpha IntraSpread facility will be particularly beneficial to retail brokers: Schmitt
Proposed change would address issues regarding potential wash trades
New order types proposed to meet subscriber demand
Already, the bank-owned alternative trading system has more than 20% of the volume of trades in Canada
Cut would leave ATS with the lowest active fees for securities priced between $1 and $5
CEO says bank owned rival has built in conflict of interest