The Alpha alternative trading system’s market data feed is to be distributed direct to customers of Vhayu Velocity, a data delivery and analysis solution.
Alpha is being established by a consortium of Canadian investment banks in competition with the Toronto Stock Exchange. The platform is scheduled to go live on 26 September.
“The Alpha Group, including Alpha System and Alpha ATS, was established to provide organisations trading Canadian equities with efficient, low latency trading services and market data,” said Jos Schmitt, President of Alpha Systems.
The Vhayu Alpha feed handler aims to deliver access to the tick data required to give market participants deeper visibility into the Canadian stock market and liquidity discovery. It will also support the creation of a blended order book with a single view of multiple sources of liquidity for the same instrument. Vhayu Velocity customers will have the ability to capture and analyse real-time data from Alpha, and use it in conjunction with stored historical data.
“Vhayu’s Alpha feed handler will let our Velocity customers in Canada take immediate advantage of the opportunities presented by a newly competitive stock-trading market,” stated Jeff Hudson, CEO at Vhayu.
The consortium of brokers behind Alpha includes BMO Capital Markets, Canaccord Capital Corporation, CIBC World Markets, CPP Investment Board, Desjardins Securities, National Bank Finance, RBC Capital Markets, Scotia Capital and TD Securities.