CanDeal
For the Brazilian municipality, see Candeal.
 | |
| Private | |
| Industry | Financial |
| Founded | June 27, 2001 |
| Headquarters | Toronto, Ontario, Canada and Montreal, Quebec, Canada |
Key people | Jayson Horner (Co-Founder, President & CEO) |
| Owner |
Bank of Montreal Bank of Nova Scotia CIBC National Bank of Canada Royal Bank of Canada TMX Group Toronto-Dominion Bank |
Number of employees | 17 |
| Website | http://www.candeal.ca |
CanDeal is a Canadian online exchange for Canadian dollar debt securities. It provides institutional investors access to liquidity for Canadian Government Bonds and money market instruments. CanDeal has offices in Toronto and Montreal and is owned by Canada’s Six Major Banks and TMX Group.
CanDeal became a member of the Investment Dealers Association of Canada, and was granted alternative trading system status by the Ontario Securities Commission on July 2, 2002.
History
- June 27, 2001 – CanDeal is created by founding shareholders BMO Nesbitt Burns, Basis100 inc., CIBC World Markets Inc., MoneyLine Network Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.[1]
- July 8, 2002 – TMX Group acquires a 40% stake in CanDeal.[2]
- 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.[3]
- March 11, 2003 – CanDeal adds Canada Housing Trust CMB’s (Canada Mortgage Bonds) to its marketplace.
- August 19, 2003 – CanDeal announces that straight-through processing (STP) is available via DealXpress version 1.0.[4]
- September 9, 2003 – CanDeal adds Provincial Bond issues to its marketplace.
- October 21, 2003 – CanDeal launches its market data product via TMX Datalinx real-time feed.[5]
- February 11, 2004 – TMX Datalinx and Thomson Financial agree to distribute CanDeal’s real-time market data.[6]
- August 18, 2004 – Aggregate volume traded on CanDeal surpasses $100 billion.[7]
- 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.
- October 13, 2005 – A Canadian institutional investor executes the first foreign security trade on CanDeal; a U.S. Treasury bond.[8]
- November 1, 2005 – CanDeal launches a new division, Revolution Trading, an electronic inter-dealer trading network.[9]
- September 20, 2006 – CanDeal announces that online trading of Canadian debt securities is now available to European institutional investors.[10]
- 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.[11]
- November 13, 2007 - CanDeal announces that Money Market Trading on its CAMM platform is up over 200% for the second half of the fiscal year.[12]
- January 15, 2008 - Laurentian Bank Securities Joins CanDeal's Money Market Platform.[13]
- February 5, 2008 - CanDeal Introduces New Client Viewer.[14]
- August 20, 2008 - CanDeal Announces Record Canadian Money Market Volumes.[15]
- September 3, 2008 - CanDeal Trading Soars Through New Milestones.[16]
- September 23, 2008 - Participants Set New Volume Record On CanDeal.[17]
- October 1, 2008 - Participants Set Four New Records on CanDeal.[18]
- January 22, 2009 - CanDeal and Charles River Help Canadian Firms Address NI 24-101.[19]
- June 1, 2009 - CanDeal introduces butterfly trading to its marketplace.
- July 6, 2009 - CanDeal Sets Multiple New Records for Canadian Electronic Debt Trading.[20]
- February 24, 2010 - CanDeal launches mobile fixed income pricing application for institutional professionals.[21]
- July 7, 2010 - CanDeal Traded Volume Surpass $3 Trillion[22]
- April 13, 2011 - CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set.[23]
Products
CanDeal provides institutional investors with online access to liquidity for Canadian debt securities as well as access to global marketplaces in the United States and Europe operated by Tradeweb. CanDeal utilizes the “Request for Quote” (RFQ) trading protocol to trade the most active government securities and a commingled “Inventory” based trading protocol for less active money market instruments. CanDeal created a multi-dealer Limit Order protocol for trading fixed income securities.
References
- ↑ Major Investment Dealers agree to launch First Multi-Dealer electronic trading system in Canada. June 27, 2001
- ↑ CanDeal gets all clear from Canadian regulators; TMX takes stake. July 9, 2002
- ↑ Basis100 Announces Sale of Shares to CanDeal.ca. February 11, 2003
- ↑ CanDeal announces new trade-clearing platform. August 19, 2003
- ↑ TSX Datalinx to distribute CanDeal prices. June 4, 2003
- ↑ Financial Signs TSX Datalinx for Distribution of CanDeal Market Data and Information on Thomson ONE. February 11, 2004
- ↑ CanDeal deals $100 billion. October 10, 2004
- ↑ CanDeal Celebrates Major Milestone. November 10, 2005
- ↑ Trayport’s GlobalVision platform powers CanDeal’s Revolution Trading network. November 14, 2005
- ↑ Thomson TradeWeb and CanDeal in Canadian fixed income trading venture aimed at European investors. September 21, 2006
- ↑ $1 Trillion Traded On Candeal. August 8, 2007
- ↑ CanDeal Money Market Trading Up Over 200%. November 13, 2007
- ↑ Laurentian Bank Securities Joins CanDeal's Money Market Platform. January 15, 2008
- ↑ CanDeal Introduces New Client Viewer. February 5, 2008
- ↑ CanDeal Announces Record Canadian Money Market Volumes. August 20, 2008
- ↑ CanDeal Trading Soars Through New Milestones. September 3, 2008
- ↑ Participants Set New Volume Record On CanDeal. September 23, 2008
- ↑ Participants Set Four New Records on CanDeal. October 1, 2008
- ↑ CanDeal and Charles River Help Canadian Firms Address NI 24-101. January 22, 2009
- ↑ CanDeal Sets Multiple New Records for Canadian Electronic Debt Trading. July 6, 2009
- ↑ CanDeal launches mobile fixed income pricing application for institutional professionals. February 24, 2010
- ↑ CanDeal Traded Volume Surpass $3 Trillion July 7, 2010
- ↑ CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set April 13, 2011