CBID™ Fixed-Income Marketplace Marks 10th Anniversary

TORONTO, June 29, 2011 /CNW/ - Perimeter Markets Inc. is pleased to announce that its CBID fixed-income marketplace marks its 10th anniversary today. CBID opened its doors in 2001 with a simple objective - to deliver electronic efficiency and open-market dynamics to the world of over-the-counter bond trading. In the 10 years since it first started bringing buyers and sellers of bonds together, CBID has grown substantially and remains Canada's only electronic fixed-income marketplace focused on firms serving the individual investor.

"Reaching the 10-year mark is a significant milestone for CBID," said Geoff Eby, President, Perimeter Markets Inc. "We have worked hard at building this business and don't take the success of the CBID and CBID Institutional marketplaces for granted. Heartened by CBID's continued growth, along with strong revenues and a sound capital position, we are excited at the prospect of continuing to meet the needs of our clients as they move in the direction of open and electronic fixed-income trading."

Perimeter operates two distinct fixed-income marketplaces: CBID Institutional, which serves Canada's largest institutional clients who require continuous auction, peer-to-peer trading; and CBID, which is a liquidity provider market serving those who work on behalf of individual investors. In the CBID liquidity provider model, multiple investment dealers send live and executable orders into the marketplace, where they are consolidated into a single inventory and presented to subscriber firms. Advisors, managers and traders at these firms browse this inventory anonymously and transact on behalf of their clients with orders matched with only the most competitive counter-orders available.

"We are committed to operating a competitive, transparent and fair trading venue for all of our market participants," said Lawrence McCann, Vice-President, CBID. "Providing them with an improved trading experience and the efficiencies of electronic trading has made us an important part of our client firms' bond businesses. Our list of participants has grown to include firms representing every area of the industry, including full-service investment dealers, discount/direct firms, investment counsellors and money managers.

"Regardless of how each of our participants chooses to serve investors, they share a strong commitment to leveraging the CBID marketplace to get the best possible bond trades done for their clients. We believe that we are well positioned to continue our strong growth as the concepts of competition, fairness and transparency - already accepted in the world of equity trading - continue to take hold in the fixed-income industry."

About Perimeter Markets Inc.
Through its CBID™ product suite, Perimeter Markets Inc. operates Canada's leading multi-participant electronic bond trading marketplace, delivering transparency and efficiency to various components of the Canadian fixed-income industry. CBID brings together the investment dealers, investment counsellors and discount brokerage firms that serve individual Canadian investors. CBID Institutional facilitates electronic and anonymous trading between the country's largest buy and sell-side firms. CBID Futures provides institutional traders with direct access to the Montreal Exchange in order to trade interest rate futures. Perimeter Markets Inc. is a member of IIROC and CIPF and a wholly owned subsidiary of Perimeter Financial Corp., which is a wholly owned subsidiary of CI Financial Corp. BondView and CBID are trademarks of Perimeter Markets Inc.

SOURCE CI Financial Corp.

For further information:

Geoff Eby      Lawrence McCann
President      Vice-President, CBID
Perimeter Markets Inc.      Perimeter Markets Inc.
geoff.eby@pfin.ca     lawrence.mccann@pfin.ca
(416) 681-7017      (416) 681-7669
www.pfin.ca

 


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