MONTREAL/TORONTO, October 8, 2014 - CanDeal is pleased to report that a new monthly volume record of $232 Billion was set during the month of September. Trade volumes for bonds and interest rate swaps surpassed their previous monthly volume records set earlier in 2014. When compared to previous monthly volume records, bond volumes were up 5%, while Interest Rate Swap volumes were up more than two and a half times.
“First and foremost, the team at CanDeal would like to thank our buy- and sell-side participants, ” said Jayson Horner, Co-Founder, President and CEO of CanDeal. “The input and support from our participants is key to ensuring that we create solutions that are uniquely tailored for Canadian bond, derivatives and money markets. As a result, we are excited about our new suite of functionality that will be introduced shortly.”
“CanDeal continues to offer a high value solution and it has become an integral part of workflow and investment strategy process,” said Andrew Gretzinger, Managing Director and Fixed Income Portfolio Manager, Canadian Fixed Income, Manulife Asset Management.
According to Greenwich Associates, 2014 Greenwich Leaders: Canadian Fixed Income Report, the percentage of volume traded electronically has risen to 48% in 2014, up from 44% in 2013. Electronic trading continues to build momentum despite an overall decrease in market activity.
“We look forward to continuing to build strong partnerships with our participants. With them, we are developing a new Value Incentive Programme to assist our buy-side partners in addressing some of the challenges they may face in today’s low rate, low return environment,” added Tristan Michela, Executive Vice President of CanDeal.
CanDeal is the leading electronic marketplace for Canadian dollar fixed income securities and derivatives (www.candeal.com). Institutional investors from around the globe gain direct access to a network of leading dealers, including all of Canada’s Primary Dealers. Participants are provided with optimal transparency, operational efficiencies and unique business intelligence data. CanDeal’s shareholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group. CanDeal also offers Canadian institutional investors and investment dealers’ electronic access to liquidity in additional debt and derivative marketplaces operated by Tradeweb Markets LLC in the United States and Europe.
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