New Stock Market Ready For July 25 Launch
TORONTO, Ontario ? The Canadian Trading and Quotation Systems Inc. (CNQ), Canada’s new equity market launching on July 25, announced today that nine investment dealers have been approved to trade on its opening day. The dealers are: BMO Nesbitt Burns Inc., Byron Securities Ltd., Canaccord Capital Corporation, Haywood Securities Inc., Jones, Gable & Company Ltd., Octagon Capital Corporation, Scotia Capital Inc., TD Securities Inc. and W.D. Latimer Co. Limited. Applications are underway by other Investment Dealers Association of Canada members interested in trading on the CNQ and additional dealers will participate through correspondent networks.
This announcement marks an important step towards achieving two objectives according to the company?s President Robert Cook. The first is to provide investors with broad access to this new equity market. The second is to offer early stage companies a marketplace that maximizes liquidity.
Mr. Cook went on to say, ?The dealers? participation demonstrates the broad support in the investment community for an alternative equity market that delivers best-in-class trading technology and the highest possible standards of market transparency and regulatory oversight.?
CNQ has adopted the Universal Market Integrity Rules, with market surveillance and regulatory oversight provided by Market Regulation Services, the same organization used by the Canadian stock exchanges. CNQ issuer disclosure requirements in many cases exceed those of the exchanges and underpin the integrity and transparency of this stock market.
?CNQ is an important addition to the Canadian capital markets as it creates a new stock market with integrity, transparency and liquidity for junior companies,? said Mr. Ted Norris, Executive Managing Director, BMO Nesbitt Burns Incorporated. ?We are pleased to offer our clients access to this new marketplace.?
CNQ received recognition from the Ontario Securities Commission to operate a quotation and trade reporting system earlier this year. Benefits to early stage companies actively raising capital include lower costs, a streamlined regulatory process and a unique market model that maximizes liquidity by offering the best features of both an auction market and a dealer market. A number of companies recognize these benefits and have applied to be quoted on CNQ. To date, Champion Natural Health.com Inc., International Thunderbird Gaming and United Reef Limited have met CNQ?s requirements and have been approved for quotation, according to Mr. Cook.
About CNQ
Canadian Trading and Quotation System Inc. (CNQ) has created an innovative stock market that matches enhanced disclosure and streamlined regulation with leading edge trading technology, to meet the needs of early stage Canadian companies. Combined with comprehensive regulatory oversight, this provides an efficient new equity marketplace that fosters integrity, transparency and liquidity for investors, issuers, and investment dealers.
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For more information, please contact:
Erica Belling
NATIONAL Public Relations
416-848-1404