The CanDeal Provincial Bond Market provides institutional investors with an unparalleled level of best price transparency for Provincial Bond issues, which includes cash pricing and spread to benchmark pricing. Additionally, the CanDeal live dealing window provides efficiency, speed and access to a deep pool of liquidity that is far superior to the traditional telephonic method. Participants can electronically complete "outright" [single security] Provincial bond trades or "basis" [yield spread] trades between a Government of Canada bond and a Provincial bond or between two Provincial Bonds. "This release demonstrates CanDeal's ability and commitment to deliver new products and services for the benefit of our industry," said Jayson Horner, President and CEO of CanDeal.ca Inc.
"The expansion of CanDeal's product base to include Provincial bonds will add further value to the CanDeal online trading system" says Mark Carpani, fixed income funds manager at Mulvihill Capital Management. "With CanDeal, within 15 to 20 seconds, you can get a firm dealing price back from four dealers simultaneously. That's physically not possible over the phone," he added.
The CanDeal Provincial bond market is anchored by the pricing and liquidity provided by CanDeal's six major dealer members. "CanDeal volumes have grown rapidly over the past year and now exceed $50 Billion as measured by one side of cash securities transactions. We look forward to continued growth in terms of volume and additional buy side & sell side participants as we continue to expand our dealing products, functionality and our STP capabilities," said Mr. Horner. CanDeal's Provincial bond trading service will be available for a free trial period to all new and existing CanDeal users.
