CanDeal, the leading institutional electronic marketplace for Canadian bond, money market, and derivatives trading, has announced an ownership restructuring under which each of Canada’s six leading banks increased its stake in the marketplace.
As a result of the restructuring, which included a reduction in TMX Group's share, CanDeal's ownership group each has an equal share of the company.
On a combined basis, the Canadian banks now own more than 85% of CanDeal, signaling an increased commitment to electronic trading in Canadian Dollar products.
The CanDeal marketplace features more than 300 institutional investment firms and includes 11 Canadian bank/dealer liquidity providers. CanDeal trading volumes have grown from C$600Billion in 2008 to more than C$3.1Trillion in the past four quarters.