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by Stockwatch Business Reporter

Canada's alternative trading systems captured 34 per cent of trading volume during the week ended April 11, 2014. Chi-X Canada traded an average of 86.5 million a day for 11.6 per cent of volume. Alpha Trading Systems handed 76 million shares a day for 10.3 per cent. CX2 handled 30 million shares a day for 4 per cent. Match Now, TMX Select, Pure Trading and Omega ATS shared the rest. The Toronto Stock Exchange and the TSX Venture Exchange received 64.6 per cent of trading volume and the Canadian Securities Exchange handled the other 1.2 per cent.

Looking at stocks listed only on the TSX, the exchange handled 58 per cent of volume, Chi-X received 15 per cent, Alpha 11.7 per cent and CX2 4.5 per cent.

Jos Schmitt continues to promote Aequitas, his new proposed exchange backed by Barclays and Royal Bank of Canada. Early next year, Aequitas plans to launch multiple trading venues, including one for senior public companies and another for private start-ups. Mr. Schmitt says that many private Canadian companies run into difficulties raising money, which leads them to list too early, sell too early or even move to the United States, where it is easier to access capital. Mr. Schmitt hopes to change this. So the does the TMX Group, which announced last month that it too plans to help private companies raise money (and keep them from Aequitas) with TMX Private Markets. The announcement came as validation for Mr. Schmitt, who could not be happier. He also uttered his latest Schmittism, comprising two truisms, one cliche, some excess words and a big hooray: "Competitive and innovative forces are starting to have an impact on the marketplace and the winners, at the end of the day, will be the small and mid-sized companies who will be given choice. This will be a great win for them." He was sharing his thoughts on Monday with a group of Torontonians at a networking event called Fireside Chat. Aequitas awaits regulator approval for its second exchange proposal; its first was rejected by the Ontario Securities Commission in January.

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