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by Stockwatch Business Reporter

Alternative trading systems in Canada handled 27.4 per cent of Canadian trading volume during the week ended Jan. 13, 2012. Alpha Trading Systems led the ATSs, trading an average of 136.8 million shares a day or 17.2 per cent of volume. Chi-X Canada came second, with an average of 55.4 million shares a day or 6.9 per cent of volume, followed by Pure Trading with 13.7 million shares a day or 1.7 per cent of volume. Then came Omega ATS with 11.8 million shares or 1.4 per cent and TMX Select with nine million shares a day or 1.1 per cent. The Toronto Stock Exchange and the TSX Venture Exchange kept a commanding 72.6 per cent.

Looking at securities listed only on the TSX, Alpha handled 20.2 per cent of volume; Chi-X grabbed 8.6 per cent and the other ATSs took 6.1 per cent. The exchange kept 65.1 per cent.

Chi-X has released its year-end report card, in which it points out five 2011 milestones. The first was in April, when the ATS grabbed 10 per cent of Canadian market share for the first time. In August, it began rebating the passive side on TSX-V-listed securities, and in September it launched the first multipost smart routing system. A month later, Chi-X introduced X-Berg orders (its version of icebergs), and it also attracted six new equity investors. Chi-X also used its year-end review to express its concerns over the TMX Group-Maple Group merger. The ATS is concerned that with the merger will come higher clearing costs, but it also notes the possibility that Alpha may be wound down. No matter what, Chi-X says, it plans to stick around.

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