Omega ATS

Omega ATS

November 08, 2007 15:31 ET

Omega ATS Announces Launch Date of December 6, 2007

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2007) - Omega ATS is pleased to announce that its marketplace will be launched on Thursday, December 6, 2007. Omega provides the Canadian marketplace with a fast, anonymous, strict price/time priority trading platform where customers will be able to trade at the CBBO (Canadian Best Bid and Offer) at competitive rates. Omega will initially support securities inter-listed on the TSX and another U.S. exchange; this will enable dealers to route short sale orders to Omega without the need to refer to the "last sale price" requirement attendant on non-interlisted stocks. Omega will support trading in ten symbols in its first calendar week of launch and then twenty-five symbols in the second calendar week, all of which will be announced prior to launch. It is Omega's intention to scale-up to the full set of inter-listed symbols as soon as market conditions warrant.

Subscribers must be dealers registered in one or more provinces in Canada and members of the Investment Dealers Association of Canada, with a registered clearing number and account at CDS.

If you are interested in connecting but have not yet initiated the process, the following steps are required:

1. Download the connectivity specifications, subscriber information form and subscriber agreement from www.omegaats.com. The specifications provide all of the technical details for submitting orders to Omega ATS and receiving market data from Omega ATS.

2. Download the subscriber or vendor documents at www.omegaats.com. We encourage you to send us the Subscriber Information Form or Vendor Information Form as soon as possible to assist us in connecting you. The remaining documents must be completed before you commence trading on Omega.

3. Choose your extranet connectivity provider for connectivity and data feed options. The following vendors are approved partners and have the necessary infrastructure in place: SAVVIS, BTRadianz, and Transaction Network Services. If you do not have a local contact, please call Greg King at (416) 646 2764 and he will provide one.

4. Choose your method for sending and receiving Omega order information. The two options are:

a. Technology vendors and jitney (executing broker) arrangements. Choose a third party execution management system provider, third party order-router or jitney broker. The following vendors are approved partners and have indicated they expect to have the necessary infrastructure in place for launch: ORC, Penson Financial Services Canada through its Nexa front-end, and Credit Suisse through its Advanced Execution Services (AES). In addition, Penson Financial Services Canada and Credit Suisse Securities (Canada) can provide their routing services on a jitney basis by acting as your executing broker. Other vendors have committed to adding Omega ATS as a marketplace destination, but have not at this time indicated their availability for launch. Accordingly, we urge dealers to consider an interim connectivity solution using one of the three vendors mentioned above if their preferred vendors appear unlikely to connect to Omega by launch. If you do not have a local contact, please call Greg King at (416) 646 2764 and he will provide one.

b. Direct Connection. Connect to Omega ATS directly using your own proprietary front-end. The information required to build such a connection is contained in the connectivity specifications. Omega ATS has followed a strict FIX 4.2 protocol for connection and our initial experience has been that this connectivity protocol is much easier to implement than other marketplace protocols currently in use in Canada.

5. Ask your back office provider to add Omega ATS as a marketplace. All Omega ATS trades will settle through CDS. We have spoken with the three major back office providers in Canada and they have indicated their support for our launch.

6. Arrange for testing with Omega ATS by calling Greg King at (416) 646 2764 for a specific testing window. To date, live testing has required no more than 2 to 3 hours per client, although we expect some clients may take several hours of intermittent testing over the course of a week or two. Testing can be done over a secure VPN connection in advance of the final production implementation of your chosen extranet provider. Omega will not conduct multi-party capacity stress tests in advance of launch. Omega is confident that it has system capacity to meet expected trading volumes post-launch and can readily scale its capacity to meet unexpected demand.

Omega ATS will display its order and trade execution data through multiple formats:

- Direct data feed. Subscribers connecting directly will receive our real-time, full depth-of-book order data through an ITCH 3.0 feed. Subscribers utilizing a third party technology vendor or jitney broker may receive full depth-of-book, top-of-book or other configuration, dependent on the functionality contracted from the vendor or jitney broker.

- Free public viewer. An Omega book viewer will be publicly available on the Omega ATS web-site. The book viewer will provide real-time depth-of-book information and time of sale (i.e., trade execution summary) for up to 20 chosen bookviewers per workstation. For the foreseeable future, Omega intends to disseminate this information without charge.

- Information vendors. We have entered into an agreement with DTN as our information vendor to disseminate Omega order and trade information. DTN has indicated they will be ready for our launch date. The robust NxCore API allows Omega subscribers using DTN, and other DTN clients, to quickly and easily integrate the Omega data into their trading systems. By using the fast and efficient NxCore compression technology, DTN is able to deliver to its clients, and any other information vendor, Omega's full depth of book and trade information via the Internet or through one of the extranets described above. TSX Datalinx has announced its intention to provide a Consolidated Data Feed incorporating Omega order information in Q1 2008.

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