MONTREAL, Quebec & TORONTO, Ontario (April 6, 2010) – CanDeal is pleased to announce that multiple trading records were set by domestic and foreign participants in the quarter ending March 31, 2010.
CanDeal is pleased to report that new quarterly and monthly records were set for both trade volume, as well as trade count. During the quarter, trade volume exceeded $225 Billion, while recording over 28,000 trades; and a new single month volume record was set in March at over $92 Billion, while recording over 11,000 trades.
During the quarter, CanDeal also introduced new functionality and trading protocols, which included Indication of Interest (IOI) trading, another first for the Canadian debt markets. “We have witnessed a significant increase in the size of trades, the number of trades and the number of users, all of which have contributed to the record quarter. We see participants utilizing our marketplace across a broader cross section of their daily work-flow needs” said Jayson Horner, Co-Founder President & CEO of CanDeal.
Tristan Michela, Executive Vice President of CanDeal said, “Half of our client base is now from outside of Canada, generating approximately 30% of volumes during the quarter. Foreign participation from players in markets that are larger and well versed along the electronic trading curve serves as a precursor to a growing trend domestically.”
CanDeal is the leading online marketplace for Canadian dollar debt securities (www.candeal.ca). CanDeal provides online access to the largest pool of liquidity for Canadian government bonds and money market instruments. The network delivers the market making power of Canada’s 12 Primary Dealers. CanDeal’s marketplace is available to institutional investors in Canada, the United States and Europe. In addition to straight-through-processing, online trade allocations, real time trade blotters and confirmations, the network also provides its users with superior compliance and audit functionality. CanDeal’s stakeholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.
CanDeal also offers Canadian institutional investors and investment dealer’s online access to liquidity in additional debt and derivative marketplaces operated by Tradeweb in the United States and Europe.