Pure trading was started by the CNSX. It trades TSXV, TSE, and other stocks and promised faster and cheaper order execution, etc. Amazing that it could make these strides.
This from stockwatch.
" Pure Trading, as usual, was the third most active alternative trading system in Canada during the week ended Sept. 23, 2011. Together, the Canadian ATSs handled 32.2 per cent of trading volume, leaving 67.8 per cent to the Toronto Stock Exchange and the TSX Venture Exchange. Alpha Trading Systems came first with 197 million shares a day or 20.4 per cent of volume. Chi-X Canada came second with 71.8 million shares a day or 7.4 per cent of volume. Pure handled 23.5 million shares a day or 2.4 per cent. Omega ATS was next with 18.4 million shares or 1.9 per cent, and in last place, TMX Select traded 12.3 million shares a day or 1.2 per cent.
Looking at securities listed only on the TSX, Alpha grabbed 22.2 per cent of volume, while the other ATSs captured 15.9 per cent. The TSX was left with 61.9 per cent.
Maple Group is expected to speak up this week, ahead of its Sept. 30 $50-a-share bid deadline for the TMX Group. Earlier this summer, Maple planned to continue extending the deadline until it receives approval from regulators. According to an article in the Financial Times, the Competition Bureau plans on revealing its decision after both the Ontario and Quebec securities commissions hold hearings. The OSC has not yet scheduled a hearing, but should do so 30 days after releasing Maple's detailed application. Investors continue to remain uncertain that the merger will go through, as seen in the TMX's stock price which dropped under $39 Monday, down from $45.69 in June.
Also this week, Hong Kong Exchanges & Clearing hired Chi-X Global's chief technology officer, Richard Leung, as co-head of information technology. The Hong Kong exchange plans to spend the next two year upgrading its technology to help compete with ATSs, such as Chi-East and Chi-X Japan, and other global exchanges." |
