"A great many of our existing customers have requested the ability to utilize our proprietary and proven trading model to obtain firm markets from multiple dealers simultaneously on both "outright" [single security] Provincial bond trades and "basis" [yield spread] trades between Canada's and Provincials or between two Provincial bonds," said Jayson Horner, President and CEO of CanDeal.ca Inc. "We have worked closely with our customers to ensure that the trading etiquette and conventions match the needs of the Canadian debt industry as we continue to evolve electronic trading."
The CanDeal Provincial bond market will be anchored by the liquidity of the industry's leading dealers. A beta group of CanDeal clients are currently evaluating the new Provincial bond pricing and trading capabilities which are scheduled for general availability in the near future. "We expect that delivering the additional functionality and product breadth that CanDeal participants have been asking for will lead to a further increase in the share of market trading activity on CanDeal's electronic fixed income platform and to the addition of new dealers," said Horner.
For the first time anywhere Canadian Institutional investors will have the ability to view real-time "co-mingled" Provincial bond prices received directly from the six major Canadian dealers and to deal online at the best price or spread in a fraction of a second on CanDeal's live dealing screen. CanDeal's Provincial bond trading service will be available for a free trial period to all new and existing CanDeal users.
