Canada’s new stock exchange sees increasing trading volumes.
CNQ (Canadian Quotation and Trade Reporting System Inc.) reports that it has completed its first full year of operation with several consecutive months of increased trading activity. July was yet another record month with each of trading value, volume and transactions up significantly from the previous records set in June.
“This steadily increasing activity reflects not only the growing awareness of CNQ’s stock exchange but also the demand for trading in the shares of CNQ listed companies” said Robert Cook, President and CEO. “We’ve come a long way since we launched last summer.”
CNQ ended its first full year of operation with 28 listed companies with an average market capitalization of $4.5 million. Most Canadian investment dealers access the CNQ market either directly or through correspondent arrangements with the 14 approved CNQ dealers, thereby providing Canadian investors with access to growing companies that do not trade on any other stock exchange in Canada. The new stock exchange, recognized by the Ontario Securities Commission, operates a fully electronic trading system with competitive market makers as liquidity providers. Investors are protected by the CNQ rules providing full price and time priority to client orders and by the rules and regulations of the OSC, the Investment Dealers Association and Market Regulation Services Inc.
Complete public disclosure by every listed company is available at the CNQ website www.cnq.ca which also shows market depth not displayed by any other exchange. Companies are also subject to CNQ’s enhanced disclosure requirements which give investors both greater information and one central source of corporate disclosure.
Total volume for the month of July was 8,777,250 shares with a value of $2,203,294. “The trading activity is typical for markets for developing companies that have a relatively low price per share,” said Cook, “and the participation of market makers contributes to an orderly market.” The average trade on CNQ has a value of just over $4,000, reflecting that the demand for most listed shares comes from retail investors.
For more information please visit www.cnq.ca or call
Robert Cook, President and CEO
416-572-2000