Trayport, a leading supplier of multi-asset-class electronic trading platforms, today announced that CanDeal has launched a new business division, Revolution Trading powered by Trayport's GlobalVision Broker Trading System.
Candeal, Canada's leading, multi-dealer-to-institutional investor online debt securities trading network, has launched Revolution Trading to address the needs of electronic inter-dealer trading in Canada.
This direct access trading platform was launched on 1 November 2005 and is being used to initially trade Canadian government bonds and provide post trade straight through processing efficiencies.
CanDeal, owned jointly by Canada's premier stock exchange and Canada's major banks, distinguishes itself as a pioneer in the direct access inter-dealer market for bonds in Canada through Revolution Trading. Revolution is providing investment dealers with a powerful new choice to execute their dealer-to-dealer trades at significantly lower transaction costs. Enhanced electronic trading features, tailored to suit Canada's fixed income trading processes, mean that the platform is ideal for unleashing the market's potential and increasing overall trading volumes.
"We have been working with Trayport and our dealer participants to ensure we present a platform that will increase trading efficiencies for our users while at the same time streamline trading processes and reduce costs," said Kirk Stocks of Revolution Trading. "Trayport's flexible platform and hands-on team made this easy. Revolution intends to be a key provider in the growth and evolution of the market. In doing so, we look forward to serving the market with innovative tools to help build a deep liquidity pool."
"We are extremely pleased to enter the Canadian market with CanDeal and Revolution Trading. We view this initiative as a key step in our expansion into North America," said Edmund Hor, Managing Director of Trayport. "The use of our GlobalVision platform for fixed income trading further proves its multi-asset-class nature and that it can be successfully customised to serve any markets and transactional business models."