21 October 2017
Register now

Nasdaq switches on Canadian terminals

21 November 2000  |  3727 views  |  0 Nasdaq switches on Canadian terminals

Nasdaq Canada has commenced operation with ten securities firms trading Nasdaq-listed securities direct from Montreal. The placing of trading terminals north of the border marks the first step in a three phase plan to establish global linkage between Nasdaq markets in North America, Japan and Europe.

Currently, there are 146 Canadian companies listed on Nasdaq, generating an average daily volume of $3.13 billion (C $4.83 billion) a figure which exceeds volumes recorded on local exchanges.

In this first phase, trading terminals have been installed initially in ten Canadian securities firms in Montreal. This will enable these firms to trade the 5000 Nasdaq-listed companies directly through their local broker, including the 42 Canadian companies previously listed solely on Nasdaq US.

Phase two coincides with introduction of Nasdaq's SuperMontage, which will provide for the display of multiple prices from each market participant and the opportunity to list Canadian companies exclusively on Nasdaq Canada.

Phase three will provide for "true globalisation", says the exchange, linking Nasdaq Canada with Nasdaq, Nasdaq Japan, and Nasdaq Europe.

The success of this first phase will determine the timing on the rollout of successive initiatives, says Frank Zarb, chairman and chief executive officer of The Nasdaq Stock Market. He adds: "Our ultimate goal is linking Nasdaq Canada to a global trading platform that will include Nasdaq markets in Asia and Europe."

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

Euronext seals pact with Luxembourg

Euronext seals pact with Luxembourg

17 November 2000  |  4319 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8695 views comments | 21 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8600 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7695 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7159 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6765 views comments | 14 tweets | 23 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job