PURE TRADING REPORTS RISING VOLUME; CHI-X OFFERS ACCESS THROUGH ORC

Posted April 24, 2008

TORONTO – Pure Trading, the alternative electronic marketplace competing with the Toronto Stock Exchange (TSX), is reporting increases in trading volume, orders and numbers of dealers on its marketplace.

Pure Trading’s average daily volume of shares traded, excluding crosses, rose to almost 1.8 million shares. With volume from crosses added, the daily average is almost 2.4 million shares, representing 0.55 percent of Canadian trading in senior listed equities. Pure Trading also reports an average of 725,000 orders per day in March, a 30 percent increase over February, as well as a volume record on March 24, surpassing 5 million shares in a day for the first time, exceeding 1 percent market share of all Canadian trading.

TSX-listed names posted on Pure Trading for the first time in late January. In addition, on April 10, the TSX settled its intellectual property suit against Pure Trading and CNQ, a new stock exchange affiliated with Pure Trading.

“We are very pleased with the outcome of this matter,” says Ian Bandeen, Chief Executive and Vice Chair, CNQ. “It is critical that the Canadian capital markets be free of distraction as we collectively embark on the evolution to a more competitive multiple market system. This will allow us each to move forward and focus on our commercial priorities. We applaud the leadership position that the TSX has taken in helping to resolve this matter in such a mutually satisfactory manner.”

In a related Canadian markets development, Chi-X Canada, an alternative trading system for TSX-listed securities, is offering direct market access through a connectivity solution from Orc Software, the advanced derivatives trading and connectivity technology provider.

“We’re pleased that Orc customers will now be able to route orders to and receive pricing information from Chi-X Canada,” says Tal Cohen, Head of Chi-X Canada. “Our approach from day one has been to work with the community to provide as much choice as possible, and today’s announcement is an example of that strategy in action.”