Welcome to the new blog for the Canadian Securities Exchange, The Exchange for Entrepreneurs.
Operated by CNSX Markets Inc., a recognized stock exchange, the Canadian Securities Exchange (or “the CSE” for short) encompasses the activities formerly carried on by the Canadian National Stock Exchange and Pure Trading.
we will continue to focus on lowering the cost of public capital for entrepreneurs in Canada.
As our team travels around North America talking to members of the investment and issuer communities, we hear two consistent areas of concern: markets have become too fragmented and complex; and the costs of doing business as traders, corporate finance professionals, advisors and issuers in the public markets are becoming prohibitive. As an exchange operator we are doing our part to address both concerns:
- In the last few weeks we consolidated the two trading systems (CNSX and Pure Trading) we have operated over the last several years. Eliminating one of the systems, and related order entry and market data gateways, reduced network and access costs for our dealer and vendor partners. At the same time we have combined our market data services, meaning that end users receive data for CSE-listed stocks and other Canadian exchange listed stocks on a single service. Costs for end users who took both of our services previously, have seen their market data costs drop as a result.
- At the same time, we will continue to focus on lowering the cost of public capital for entrepreneurs in Canada. Our listing model focuses on enhanced disclosure from the issuers to address regulatory risks and leaves it to the market to analyze and value business risks inherent in a security. The Canadian Securities Exchange is, as a result, able to offer companies a faster and lower cost avenue to public capital than available alternatives.
Already known in the industry for our customer focus and service, we have a number of exciting initiatives scheduled for the coming months designed to address the cost and complexity challenges faced by all of our customers:
- New trade execution pricing designed to promote liquidity while addressing the cost challenges faced by agency brokers;
- Creation of a market making programme for CSE-listed stocks to promote tighter spreads and deeper books. As a component of the programme, a series of tools will be provided for market makers;
- Delivery of next generation order routing and risk management tools designed to assist dealers in meeting their best ex and best price obligations, while preserving their ability to service direct access customers;
- Addition of new resources to support our issuers in their efforts to be better heard in the investment community.
We look forward to meeting with many of you in the coming months as we schedule events across Canada to introduce our new brand and vision to the investment community.
– Richard Carleton, CEO