TORONTO, Ontario (November 13, 2007) – CanDeal is pleased to report a 218% increase in the number of trades executed on its Canadian Money Market (CAMM) trading platform in the second half of its fiscal year, ended October 31, 2007. “This rapid growth of trades is consistent with the U.S. and European experience and the widespread adoption of online trading in money markets, globally. All of the leading dealers in the Canadian money market participate on CanDeal”, says Shirley Gallant, Managing Director for CanDeal.
CAMM is the only destination where domestic and international institutional investors and treasury managers can sort, filter and view multiple dealer offerings of Canadian money market instruments (BA’s, BDN’s, CP, ABCP, Crown Corporations, Provincial Bills) in a single commingled display. CAMM can reduce to a matter of seconds the pre-trade discovery, trade execution and the post-trade allocation processes. Users may trade at dealer-posted levels or electronically negotiate with them on a one-on-one basis.
In addition to its commingled-offering platform, CanDeal’s proprietary Request for Quote (CAMM-RFQ) trading protocol allows users to simultaneously solicit firm offerings from multiple dealers. Using a single-click, clients can trade with one or more dealers to create a diversified position. CAMM-RFQ is available for Banker’s Acceptances, Bank Deposit Notes and Term Deposits.
CanDeal creates a permanent and retrievable compliance archive of every transaction, which details all communications between client and dealer during the trade cycle; including prevailing market levels at the time of the trade and subsequent trade allocations or modifications.
“CanDeal is the acknowledged market leader. We take pride in working with the broadest cross-section of market constituents to build innovative and efficient tools that our clients use, everyday.” says Jayson Horner, President and CEO of CanDeal. “Unlike other alternatives, CanDeal provides users with the ability to proactively manage counterparty risk and our automated post-trade solutions mitigate the compliance, settlement and market risks associated with telephonic trading.”
CanDeal is the leading global online marketplace for Canadian dollar debt securities (www.candeal.ca). CanDeal provides online access to the largest pool of liquidity for Canadian government bonds and money market instruments. CanDeal’s marketplace is available to institutional investors in Canada, the United States and Europe.
CanDeal offers Canadian institutional investors and investment dealer’s online access to liquidity in 17 debt and derivative marketplaces operated by Thomson TradeWeb in the United States and Europe.