CanDeal is a Canadian online
exchange
Exchange or exchanged may refer to:
Arts, entertainment and media Film and television
* Exchange (film), or ''Deep Trap'', 2015 South Korean psychological thriller
* Exchanged (film), 2019 Peruvian fantasy comedy
* Exchange (TV program), 2021 Sou ...
for Canadian dollar
debt securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
. It provides
institutional investor
An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked ...
s access to liquidity for Canadian
Government Bonds
A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity da ...
and
money market
The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less.
As short-term securities became a commodity, the money market became a compo ...
instruments. CanDeal has offices in Toronto and Montreal and is owned by
Canada's Six Major Banks and
TMX Group (equally as of 2018
compared to a previous ownership structure in which TMX owned 47%).
CanDeal became a member of the
Investment Dealers Association of Canada, and was granted
alternative trading system
Alternative trading system (ATS) is a US and Canadian regulatory term for a non-exchange trading venue that matches buyers and sellers to find counterparties for transactions. Alternative trading systems are typically regulated as broker-dealers r ...
status by the
Ontario Securities Commission
The Ontario Securities Commission (OSC; French language, French: ''Commission des valeurs mobilières de l’Ontario'') is a regulation, regulatory agency which administers and enforces security (finance), securities legislation in the Canadian p ...
on July 2, 2002.
History
*June 27, 2001 – CanDeal is created by founding shareholders
BMO Nesbitt Burns
The Bank of Montreal (, ), abbreviated as BMO (pronounced ), is a Canadian multinational investment bank and financial services company.
The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank, making it Canada's oldest bank. In 2 ...
, Basis100 inc.,
CIBC World Markets Inc., MoneyLine Network Inc.,
National Bank Financial Inc.,
RBC Dominion Securities Inc.,
Scotia Capital Inc. and
TD Securities Inc.
*July 8, 2002 – TMX Group acquires a 40% stake in CanDeal.
*September 10, 2002 – CanDeal executes its first trade.
*January 1, 2003 - CanDeal's founder Jayson Horner leaves TD Securities to become full-time President and CEO of CanDeal.
*February 11, 2003 – CanDeal purchases Basis100's equity interest along with the rights to BasisXchange in Canada.
*September 9, 2003 – CanDeal adds Provincial Bond issues to its marketplace.
*August 18, 2004 – Aggregate volume traded on CanDeal surpasses $100 billion.
*October 19, 2004 – CanDeal announces its single day trading volume surpasses C$1 billion.
*December 1, 2004 – CanDeal trades $10 billion in a single month.
*November 1, 2005 – CanDeal launches a new division, Revolution Trading, an electronic inter-dealer trading network.
*March 24, 2006 - CanDeal acquires Moneyline's shares.
*October 11, 2006 – CanDeal surpasses One-half Trillion in aggregate volume traded.
*August 8, 2007 – CanDeal announces that it has surpassed One Trillion Dollars in aggregate volume traded since inception.
*June 1, 2009 – CanDeal introduces butterfly trading to its marketplace.
*February 24, 2010 – CanDeal launches mobile
fixed income
Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pr ...
pricing application for institutional professionals.
*July 7, 2010 – CanDeal Traded Volume Surpass $3 Trillion
*April 13, 2011 – CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set.
*January 13, 2013 – CanDeal launches the first multi-dealer-to-client trading platform for Canadian dollar interest rate swaps.
*June 18, 2014 – CanDeal surpasses $10 Trillion in aggregate fixed income & derivatives volume traded.
*October 30, 2018 – CanDeal's ownership restructured such that each of the six largest Canadian banks and the TMX have an equal stake in CanDeal.
*February 12, 2019 – CanDeal and the ownership group create Canada's first comprehensive fixed-income and derivatives market data hub called CanDeal Data & Analytics (DNA).
*December 16, 2019 – CanDeal surpasses $25 Trillion in aggregate volume traded.
*March 9, 2021 – CanDeal Data & Analytics (DNA) acquires CIBC's fixed income data business.
References
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Financial services companies of Canada