Tactico has acquired a 24% equity stake in Omega ATS, an alternative trading system for Canadian exchange-listed equities, to provide the company with financing, infrastructure support and consulting services.
Tactico, an international advisory firm specializing in implementing strategic and tactical solutions for the financial services industry, completed the stock purchase on January 24, 2010. It intends to invest additional capital and plans to use the funds to make investments in Omega’s technology infrastructure and its service offerings.
Toronto-based Omega ATS has more than 70 subscriber firms including Alpha Trading Systems’ eight founding member banks, BMO Nesbitt Burns, Canaccord Capital, CIBC World Markets, Desjardins Securities, National Bank Financial, RBC Dominion Securities, Scotia Capital and TD Securities.
Eric Stoop, MD of Tactico, said: “Omega’s volume has tripled in the past two months and they have significant price and speed advantages over TMX, Alpha, Chi-X and Pure. Omega has created a perfect storm with its straight-forward pricing, excellent performance and surging growth in liquidity. Coupled with Tactico’s investment and experience, Omega is poised to challenge the larger alternatives by providing an improved trading experience at a much lower cost.”
Francesco Pasin, CEO of JitneyTrade, said: “JitneyTrade has recently moved onto the top ten list of TSX trading leaders by volume and value and we are always looking for new products, technologies and ideas that will increase liquidity and market efficiencies across Canada. We have seen Omega take a leading role in challenging traditional pricing models and Tactico’s investment will help them continue to become a great alternative to other marketplaces in Canada.”