CanDeal explained

CanDeal
Type:	Private
Location:	Toronto, Ontario, Montreal, Quebec, Canada
Key People:	Jayson Horner (Co-Founder, President & CEO)
Industry:	Financial
Num Employees:	+100
Owner:	Bank of Montreal Bank of Nova Scotia CIBC National Bank of Canada Royal Bank of Canada TMX Group Toronto-Dominion Bank

CanDeal is a Canadian online exchange for Canadian dollar debt securities. It provides institutional investors access to liquidity for Canadian Government Bonds and money market instruments. CanDeal has offices in Toronto and Montreal and is owned by Canada's Six Major Banks and TMX Group (equally as of 2018^[1] compared to a previous ownership structure in which TMX owned 47%).^[2]

CanDeal became a member of the Investment Dealers Association of Canada, and was granted alternative trading system status by the Ontario Securities Commission on July 2, 2002.

History

• June 27, 2001 – CanDeal is 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.^[3]
• July 8, 2002 – TMX Group acquires a 40% stake in CanDeal.^[4]
• September 10, 2002 – CanDeal executes its first trade.
• January 1, 2003 - CanDeal's founder Jayson Horner leaves TD Securities to become full-time President and CEO of CanDeal.
• February 11, 2003 – CanDeal purchases Basis100's equity interest along with the rights to BasisXchange in Canada.^[5]
• September 9, 2003 – CanDeal adds Provincial Bond issues to its marketplace.
• August 18, 2004 – Aggregate volume traded on CanDeal surpasses $100 billion.^[6]
• October 19, 2004 – CanDeal announces its single day trading volume surpasses C$1 billion.
• December 1, 2004 – CanDeal trades $10 billion in a single month.
• November 1, 2005 – CanDeal launches a new division, Revolution Trading, an electronic inter-dealer trading network.^[7]
• March 24, 2006 - CanDeal acquires Moneyline's shares.^[8]
• October 11, 2006 – CanDeal surpasses One-half Trillion in aggregate volume traded.
• August 8, 2007 – CanDeal announces that it has surpassed One Trillion Dollars in aggregate volume traded since inception.^[9]
• June 1, 2009 – CanDeal introduces butterfly trading to its marketplace.
• February 24, 2010 – CanDeal launches mobile fixed income pricing application for institutional professionals.^[10]
• July 7, 2010 – CanDeal Traded Volume Surpass $3 Trillion^[11]
• April 13, 2011 – CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set.^[12]
• January 13, 2013 – CanDeal launches the first multi-dealer-to-client trading platform for Canadian dollar interest rate swaps.^[13]
• June 18, 2014 – CanDeal surpasses $10 Trillion in aggregate fixed income & derivatives volume traded.^[14]
• October 30, 2018 – CanDeal's ownership restructured such that each of the six largest Canadian banks and the TMX have an equal stake in CanDeal.
• February 12, 2019 – CanDeal and the ownership group create Canada's first comprehensive fixed-income and derivatives market data hub called CanDeal Data & Analytics (DNA).^[15]
• December 16, 2019 – CanDeal surpasses $25 Trillion in aggregate volume traded.^[16]
• March 9, 2021 – CanDeal Data & Analytics (DNA) acquires CIBC's fixed income data business.^[17]

Notes and References

1. Web site: 2018-10-30. Six Largest Canadian Banks Increase Stake in CanDeal. live. 2021-04-09. https://web.archive.org/web/20210127112600/https://www.candeal.com/en/news/six-largest-canadian-banks-increase-stake-candeal . 2021-01-27 .
2. Web site: TMX 2018 Annual Report. 2019-11-18.
3. https://www.theglobeandmail.com/globe-investor/investment-ideas/new-candeal-system-will-open-fixed-income-world/article762080/ New CanDeal system will open fixed-income world. June 28, 2001
4. http://www.finextra.com/fullstory.asp?id=6110 CanDeal gets all clear from Canadian regulators; TMX takes stake. July 9, 2002
5. Web site: Basis100 Announces Sale of Shares to CanDeal.ca. February 11, 2003 . 2007-09-17 . https://web.archive.org/web/20050508075255/http://www.valuations.firstamres.com/shares_sale_CanDeal.asp . 2005-05-08 . dead.
6. https://www.finextra.com/pressarticle/1782/candeal-aggregate-dollar-value-of-trading-exceeds-100-billion CanDeal aggregate dollar value of trading exceeds $100 billion. August 19, 2004
7. http://www.finextra.com/fullpr.asp?id=6826 Trayport’s GlobalVision platform powers CanDeal’s Revolution Trading network. November 14, 2005
8. Web site: TSX 2006 Annual Report. 2019-11-18.
9. https://www.candeal.com/en/news/1-trillion-traded-candeal $1 Trillion Traded On Candeal. August 8, 2007
10. https://www.investmentexecutive.com/news/industry-news/candeal-launches-mobile-fixed-income-pricing-app/ CanDeal launches mobile fixed income pricing application for institutional professionals. February 24, 2010
11. https://www.newswire.ca/news-releases/candeal-traded-volumes-surpass-3-trillion-544674202.html CanDeal Traded Volume Surpass $3 Trillion July 7, 2010
12. https://www.candeal.com/en/news/candeal-volumes-surpass-4-trillion-new-record-month-and-quarter-set CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set April 13, 2011
13. Web site: 2013-02-04. Swaps Trading Platform Launched in Canada. 2021-04-09. Markets Media. en-US.
14. Web site: Canadian Electronic Fixed Income & Derivatives Volumes Surpass $10 Trillion on CanDeal. 2021-04-09. www.newswire.ca. en.
15. Web site: 2019-02-12. CanDeal/bank partnership creates data hub. 2021-04-09. Investment Executive. en.
16. Web site: CanDeal Markets Hits $25 Trillion in Trading Volume CanDeal. 2021-04-09. www.candeal.com.
17. Web site: CanDeal. CanDeal Data & Analytics Acquires CIBC Fixed Income Data Business. 2021-04-10. www.newswire.ca. en.