23 August 2017
visit www.avoka.com

CanDeal gets all clear from Canadian regulators; TSX takes stake

09 July 2002  |  6493 views  |  0 CanDeal gets all clear from Canadian regulators; TSX takes stake

Bank-backed online debt securities trading platform CanDeal has received regulatory approval from the Ontario Securities Commission (OSC) and the Investment Dealers Association of Canada (IDA) to commence operations.

CanDeal was initially established as a joint venture between Canadian investment dealers BMO Nesbitt Burns, CIBC World Markets, National Bank Financial, RBC Dominion Securities, Scotia Capital, TD Securities, as well as two technology partners Basis100 and MoneyLine Telerate.

In tandem with the receipt of regulatory approval, the CanDeal consortium has agreed a 40% equity sale to TSX markets, the trade services division of TSX Group which operates the Toronto Stock Exchange.

"The TSX's involvement in CanDeal accelerates our vision of becoming Canada's preferred online debt securities marketplace," says Jayson Horner, CanDeal's president and CEO. "The TSX's experience in operating the largest electronic trading platform in Canada will be an invaluable asset to our firm and allow us to build upon the Exchange's superior technical capacity and specialised expertise."

CanDeal was created to provide an institutional dealer-to-client electronic trading system for bond and money market products. The service, powered by Basis100's proprietary BasisXchange technology, consolidates real-time market prices from liquidity provider participants into a concise display that shows the best price and yield for each instrument.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

State Street opens new Canadian headquarters

State Street opens new Canadian headquarters

30 May 2002  |  2832 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.vasco.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20503 views comments | 43 tweets | 84 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13387 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11992 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11253 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11120 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job