Toronto, Canada and London, U.K. (September 20, 2006) - CanDeal, Canada's leader in multi-dealer to client online debt securities trading, and Thomson TradeWeb are pleased to announce that online Canadian debt securities trading is now available to European institutional investors.
CanDeal has partnered with Thomson TradeWeb to expand the online trading access of Canadian debt securities for institutional investors globally. By leveraging TradeWeb’s leading online marketplace for fixed income and derivatives, CanDeal is able to offer European-based investors direct online access to Canada’s leading dealers. Clients in three continents can now take advantage of the trading efficiencies, access to liquidity, and straight-through processing that CanDeal offers. Among the markets that European clients can now trade are: Government of Canada Bonds and T-Bills, Provincial Bonds and Canada Mortgage and Housing Bonds (CMB’s). Canadian Money Market (CAMM) is also available through TradeWeb.
Jayson Horner, President and CEO CanDeal said “The liquidity of the leading Canadian dealers is now easily accessible in the same feature-rich trading application already familiar to global fixed income market participants.” Lee Olesky, President of Thomson TradeWeb added “The launch of Canadian debt securities over TradeWeb in Europe demonstrates the value of TradeWeb’s ‘One Network’ strategy to deliver pricing, trading, and STP solutions from one screen.”
The CanDeal dealer network includes the market-making power of 12 Canadian dealers including TD Securities, RBC Capital Markets, CIBC World Markets, Scotia Capital, BMO Nesbitt Burns, National Bank Financial, HSBC (Canada), Casgrain & Company, Laurentian Bank Securities, Desjardins Securities, Merrill Lynch Canada and JP Morgan Securities Canada.
CanDeal is Canada's leading multi-dealer to institutional investor online debt securities marketplace (www.candeal.ca). CanDeal's world-class platform provides its global participants with continuous access to the deepest pool of liquidity for Canadian fixed income products. CanDeal delivers the market making power of twelve leading investment dealers. In partnership with Thomson TradeWeb, the network also offers Canadian institutional investors access to a wide range of U.S. and European debt products.
The CanDeal electronic marketplace is open and available to institutional investors and investment dealers in North America, Europe and Asia. In addition to straight-through-processing, online trade allocations, real time trade blotters and confirmations, CanDeal is also a leading innovator in the fixed income markets for best execution, superior compliance & audit measurement and benchmarking. CanDeal also provides a real time market data price feed for fixed income securities.
About Thomson TradeWeb
TradeWeb is the leading online fixed-income trading network with over 10 million trades executed and total volume surpassing $140 trillion since its inception in 1998. TradeWeb’s multi-dealer auction model links the trading desks of 36 of the world’s leading Fixed-Income dealers with more than 2,200 buy-side institutions in North America, Europe, and Asia. Over $200 billion in trading volume gets executed over TradeWeb each day.
The business is also the leading electronic “straight-through processing” network for the fixed-income markets, providing dealers and buy-side institutions with paperless trade allocations and confirmations on its fully-integrated TradeXpress network. TradeWeb’s STP network also includes AccountNet, the first derivatives counterparty management tool and the leading data warehouse for standing settlement instructions and OTC derivatives legal documentation.
Thomson TradeWeb operates within the Thomson Financial group of businesses. TradeWeb LLC is a member of the NASD. TradeWeb Europe Limited is regulated by the U.K. Financial Services Authority.