Alpha Group, an alternative trading system in Canada, has said that, subject to regulatory approval, Alpha ATS will implement a new trading facility – the Alpha IntraSpread facility, during the fourth quarter of 2010.

The Alpha IntraSpread facility, a set of new orders offered by Alpha ATS, allows dealers to seek matches within their firm without pre-trade transparency and with guaranteed price improvement upon the National Best Bid and Offer (NBBO) at the moment of the trade, said Alpha Group.

The Alpha IntraSpread facility will be available to all dealers that are subscribers of Alpha and for all symbols traded on Alpha ATS.

Jos Schmitt, CEO of Alpha Group, said: “It is our intent to stay at the forefront of innovation in Canada. The IntraSpread facility is another example of our forward thinking and focus on the better interests of the industry as a whole. Indeed, this facility will allow dealers to provide clients, who have tradable orders, with a trade price better than the NBBO of all transparent marketplaces in Canada.

“Furthermore, the fees that Alpha ATS will charge for using this facility will be considerably below any of the fees currently applied by any of the marketplaces operating in Canada including Alpha.”