TORONTO, Ontario (August 8, 2007) – A significant milestone in the history of CanDeal, Canada’s leading online marketplace for debt securities. CanDeal is pleased to announce One Trillion Dollars in traded volume since inception.
CanDeal continues to build considerable momentum. The dollar volume traded in the past eleven months has surpassed the aggregate volume of all previous years. “This is a significant milestone for CanDeal,” says Patrick O’Toole, VP of Fixed Income with CIBC Global Asset Management. “CanDeal offers effective solutions that deliver financial benefits and efficiency gains in a compliance conscious environment, which directly benefit our stakeholders.”
CanDeal’s growth is driven by industry demand from both dealers and buy-side participants. Michael Donnelly, Managing Director, Head of Interest Rate Trading, TD Securities, says “CanDeal complements our growth strategy and our desire to represent Canada by serving our clients through this global marketplace.”
Participation by Canada’s industry leading dealers and progressive institutional investors has been material to ensuring the success of CanDeal. The number of investment dealers making markets on CanDeal has doubled to 12 from the original 6 founding member firms. CanDeal’s open marketplace has received enthusiastic support from Canadian institutional investors; additionally, nearly one third of CanDeal’s buy-side participants are domiciled outside of Canada. This international audience is affirmation that electronic trading has been globally accepted as the standard for accessing fixed income liquidity. “We appreciate the support that we have received from the Canadian investment community and are pleased that leading institutional investors from around the world are seeking us out and putting Canada on their list of preferred world markets” said Jayson Horner, President & CEO, CanDeal.
CanDeal is Canada’s leading multi-dealer to client marketplace for debt securities (www.candeal.ca). CanDeal’s best-in-class technology is available to institutional investors in Canada, the United States and Europe. CanDeal provides immediate online access to Canada’s deepest pool of liquidity for Canadian government bonds and money market instruments. Through CanDeal, Canadian institutional investors and investment dealers have access to liquidity in a wide range of U.S. and European debt and derivative products.