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by Stockwatch Business Reporter

Pure Trading was the third most active alternative trading system in Canada during the week ended Jan. 27, 2012. Alpha Trading Systems led the pack, trading an average of 208.9 million shares a day or 18.9 per cent of volume. Chi-X Canada followed, trading an average of 67.7 million shares a day or 6.1 per cent of volume. Then came Pure with 23.1 million shares a day or 2 per cent, slightly ahead of dark pool Match Now, which handled 23 million shares, also 2 per cent. Omega came fifth, trading 11.3 million shares or 1 per cent, followed by TMX Select with 8.1 million shares or 0.08 per cent. Together, the ATSs captured 31.1 per cent of Canadian trading volume, leaving 68.9 per cent to the Toronto Stock Exchange and the TSX Venture Exchange.

Of securities listed only on the TSX, the exchange handled 67 per cent. Alpha took 20.5 per cent, Chi-X grabbed 7 per cent and together the other ATSs split the remaining 5.5 per cent.

Maple Group, as expected, has extended its $50-a-share takeover offer for the TMX Group to Feb. 29, from Jan. 31. If the deal goes through, Maple hopes to acquire Alpha as well as the currently non-profit Canadian Depository for Securities, which it plans to make for-profit. Before the takeover can proceed, Maple needs approval from provincial securities regulators and the federal Competition Bureau, which released this statement Tuesday, "Significant and material change to the competitive consequences to the proposed transaction would be required to sufficiently address the Commissioner's serious concerns." Despite Maple recently providing the bureau with more information, little has changed since November when commissioner Melanie Aitken gave a similar statement. Investors are still uncertain the deal will close; the TMX's stock closed at $42.87 on Tuesday. The closest it came to $50 was in June, when it reached an intraday high of $45.69.

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