CanDeal deals a $1 billion day

OCTOBER 19, 2004 (TORONTO) – CanDeal, Canada’s leader in online debt securities trading, announced that its single day trading volume surpassed the $1 Billion mark, based on the par value of debt securities traded, as measured by one side of a transaction.  This marks yet another milestone in CanDeal’s brief history of providing institutional investors and dealers with online debt trading and market data tools to compliment their traditional market activities.

“Achieving a billion dollar day is a noteworthy accomplishment,” said Jayson Horner, President and CEO of CanDeal. “Increased daily volumes and an expanding list of Institutional Investors participating on our network clearly demonstrate that over the past year electronic trading is becoming part of the day to day workflow of the Institutional professional.”

Increasingly, asset managers, investment counselors, corporate and public pension funds, mutual fund companies, government and corporate treasury desks, and life insurance companies are using CanDeal for debt trading in all market conditions.  The CanDeal trading network allows an Institutional Investor to achieve a higher standard of trade management practices and exceed compliance requirements through its RFQ trading protocol; fast execution; detailed audit trail and on-line recordkeeping; and straight-through processing solutions.

About Inc. 
CanDeal is Canada's leading institutional customer to multi-dealer online fixed income trading network. CanDeal's robust and reliable platform provides its participants with continuous access to the deepest pool of liquidity for fixed income products. Today, the network delivers the market making power of the six largest domestic investment dealers to Canada's largest institutional customers. The CanDeal electronic marketplace is open and available to all institutional buyside clients and investment dealers across Canada.