TORONTO, June 8 /CNW/ - Perimeter Markets Inc. is pleased to announce the launch of Basket Trading in the CBID(TM) marketplace, allowing users to execute multiple orders simultaneously against CBID's electronic, multi-dealer fixed-income inventory. With the addition of Basket Trading, the many execution, compliance and cost-efficiency benefits of CBID are now available to those responsible for trading fixed-income securities for discretionary managed portfolio and separately managed account wrap programs.
"To date, the CBID marketplace has been focused on improving the fixed-income trading experience of investment advisors - helping them deal more effectively and efficiently with individual client trades," said Geoff Eby, President, Perimeter Markets Inc. "This new basket trading function opens up a very large and growing market segment for us, a segment that in many ways needs the benefits of CBID more than anyone else."
"Discretionary managed portfolio and separately managed account wrap programs account for more than 10% of assets in the industry and are among the fastest-growing segments of the business," said Lawrence McCann, Vice President, CBID. "As successful as they are at delivering professional money management services consistently to large numbers of individual clients, these programs present significant operational challenges to their sponsor firms. Nowhere is this more acute than in the fixed-income space."
To keep all of their client portfolios in line, successful platforms must be able to execute large numbers of small fixed-income trades at the best prices available on the street without markup or commission - and they need to do it quickly. CBID Basket Trading makes that possible, allowing traders to route up to 1,000 individual buy and sell orders through CBID's electronic multi-dealer marketplace - filling each only at the best available price - in a single process that only takes seconds to complete. Initial users report dramatic improvements in processing time and execution results over their current spreadsheet, e-mail and phone-based processes.
The Basket Trading function is being made available free upon request to all CBID subscriber firms. The terms of CBID Subscriptions are tailored to meet the requirements of individual clients and are focused on trade matching fees charged only when trades are completed. To become a CBID subscriber, or to learn more about the CBID marketplace, visit www.pfin.ca, call (416) 703-7800 or e-mail email@example.com.
About Perimeter Markets Inc.
Through its CBID(TM) 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(TM) brings together the investment dealers, investment counselors and discount brokerage firms that serve individual Canadian investors. CBID(TM) Institutional facilitates electronic and anonymous trading between the country's largest buy and sell-side firms. CBID(TM) 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: For further information: Geoff Eby, President, Perimeter Markets Inc., firstname.lastname@example.org, (416) 681-7017, www.pfin.ca; Lawrence McCann, Vice President, CBID(TM), Perimeter Markets Inc., email@example.com, (416) 681-7669, www.pfin.ca