Canada's Omega ATS Unveils U.S. Securities Trading

Canada's Omega ATS, a low-latency alternative trading system for equities and fixed income products, announced its clients can begin trading U.S. securities through its platform starting next month.

The firm said the arrangement, which begins April 1, will eliminate currency conversion charges that stem from trading U.S. securities in the Canadian market. Omega added that subscribers can enter bid/ask prices in Canadian dollars for U.S. securities.

"Bringing U.S. securities onto the venue shines some much-needed light on an area of the market that has traditionally been characterized by over-the-counter deals," Omega ATS president Mike Bignell said in a statement. "It's a big part of our mission to increase transparency and eliminate foreign exchange premiums, which can be as high as three percent." As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio