CanDeal

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CanDeal
CandealLogo.png
Founded June 27, 2001
Headquarters Toronto
Key People Jayson R. Horner - Co-Founder & CEO, Jamie Grant - President - Markets
Twitter @CanDeal
LinkedIn Profile
Website www.candeal.com

CanDeal Markets is an online electronic marketplace and data service provider for Canadian dollar debt securities and derivatives. The CanDeal markets division account for more than 90% of electronic trading in Canada for Canadian government, agency, provincial and corporate bonds, as well as money market instruments and interest rate swaps.

CanDeal’s stakeholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.

History

History

On June 27, 2001, CanDeal was created by founding shareholders, BMO Nesbitt Burns, Basis100 inc., CIBC World Markets Inc., MoneyLine Network Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.[1][2]

The TMX Group acquired a 40 percent stake in CanDeal on July 8, 2002, which then saw its first trade occur on September 10, 2002. The initial products were Canadian government bonds and t-bills. In 2003, CMBs and provincial bonds would be added for trading.[3]

The founder of CanDeal, Jayson Horner, would become the full-time president and CEO of CanDeal, after leaving TD Securities at the end of 2002.

In February of 2003, CanDeal buys Basis100's equity interest in CanDe3al along with the rights to the BasisXchange trading platform in Canada.[4]

In August of 2004, the aggregate volume traded on CanDeal surpassed C$100 billion as CanDeal had over 100 unique institutional users executing trades.[5]

In October of 2004, CanDeal surpassed C$1 billion in trading volume and December of 2004 traded C$10 billion in a single month.

CanDeal created a new division in 2005 named Revolution Trading, powered by Trayport's GlobalVision Broker Trading System. Revolution Trading is an electronic inter-dealer direct access trading platform and was initially used to trade Canadian government bonds and provide post trade straight through processing.[6]

CanDeal would buyout another partner in 2005 when it acquired Moneyline's shares. When they redeemed Moneyline's shares, TMX's stake in CanDeal grew to 47 percent.[7]

Volume continued to grow and in 2007, CanDeal announced it had surpassed the one trillion Canadian dollar mark in aggregate volume traded since inception.[8]

In 2010, CanDeal would launch CanDeal Mobile, a real-time, mobile pricing application for benchmark government bond and treasury bill issues.[9]

CanDeal would pass the C$3 trillion in aggregate traded volume for a month in June of 2010 and in April of 2011 would pass the C$4 trillion level for the month.[10][11]

Products and Services

CanDeal Markets also provides electronic market access to Canadian institutional investors non-Canadian debt and derivative marketplaces operated by Tradeweb.

CanDeal Solutions delivers pricing and analytics services that support business, trading and technology needs for participants in the Canadian market, including DataVault Innovations, the market data hub.

Key People

References

  1. Major investment dealers launching electronic trading service. Investment Executive.
  2. [New CanDeal system will open fixed-income world New CanDeal system will open fixed-income world]. The Globe and Mail.
  3. Canadian debt trading platform goes live. Finextra.
  4. Basis100 bails out of CanDeal. Finextra.
  5. New milestone for CanDeal. Investment Executive.
  6. Trayport's GlobalVision platform. Finextra.
  7. [On March 24, 2006, CanDeal acquired for redemption, shares previously issued to Moneyline Inc., a service provider, resulting in the Company’s equity interest increasing to approximately 47%. TMX 2006 Annual Report]. {{{org}}}.
  8. CanDeal says C$1 trillion traded on platform. Finextra.
  9. CanDeal launches mobile fixed income pricing application for institutional professionals. Newswire.ca.
  10. CanDeal Traded Volumes Surpass $3 Trillion. Newswire.ca.
  11. CanDeal volumes surpass $4 Trillion; new record month and quarter set. CanDeal.
  12. Trusted Insight. CanDeal.