CNQ Announces Financing
CNQ Announces Financing
Plans underway to launch Alternative Market for Canadian Equities
TORONTO (December 8, 2005) – Canadian Trading and Quotation System Inc. (“CNQ”) announced today that it has closed an equity financing of over $10,000,000. Investors include private equity funds, market participants and individuals. CNQ?s financial advisor for the offering was Blair Franklin Capital Partners.
The financing was undertaken to complete the development of CNQ?s previously announced plan to launch an alternative market for the trading of equities listed on other Canadian stock exchanges. CNQ is currently expanding and enhancing its trading engine and communications infrastructure to meet the needs of the trading community for speed, capacity and reliability at a low cost.
?This financing will enable us to pursue an aggressive strategy for growth as the supplier of a second new trading venue for Canadian investment dealers and investors? said Robert Cook, President and CEO of CNQ. ?With our experienced team of market professionals in place we are creating a market to facilitate the growing demand for quick executions and a high ratio of orders to trades.?
The CNQ stock exchange is the first new Canadian stock exchange in over 70 years. CNQ’s listed market has operated without interruption for over two years and continues to grow. CNQ uses technology partners to supply critical components of its system architecture, which has proven successful as the trading engine and market website have performed continuously without incident. There are 20 investment dealers approved for direct access and at least 20 other dealers entering orders through correspondent relationships. For more information about CNQ please visit www.cnq.ca.
Questions may be directed to Robert Cook at 416-572-2000
