TORONTO, March 5 /CNW/ - Alternative marketplaces continue to launch in
Canada but it is TSX Group's own NEX market that is showing the fastest
trading growth of any of these marketplaces.
According to current TSX Group trading data during Q1 2008, NEX activity
has recently grown to over 2.6 million shares a day. That's up from the
Q4 2007 daily average of 1.3 million shares - and accounts for a growth of
NEX is a separate board of TSX Venture Exchange. It provides an
alternative trading forum for listed companies that have fallen below TSX and
TSX Venture Exchange's ongoing listing standards, which otherwise would no
longer be eligible to trade on a TSX Group exchange or seek listing on a
competitive Canadian exchange.
Comparatively, CNQ's average trading volume is at 1.5 million shares per
day. As a percentage of overall Canadian trading, NEX's market share by volume
is also greater than each of the competitive Alternative Trading Systems
operating in Canada including Pure, Chi-X, CNQ, Triact, Liquidnet, and
Blockbook for the month of February.
"NEX meets the needs of the investor community for those trading this
segment of issuers and its trading structure was designed with customer needs
in mind," said Thomas Kalafatis, Vice-President, Sales and Trading with TSX
Markets. "Our most recent changes to NEX streamlined the fee structure to be
in-line with a volume based trading fee model, like the TSX and TSX Venture
Exchange. The lower rate per share for NEX trading fee reflects smaller market
cap of issuers. This fee structure has aided in adding liquidity. We continue
to believe that TSX focus on the specific needs of customers will reinforce
the growth of markets and address competitive forces. We are excited at
continuing to develop new products for the marketplace."
NEX companies benefit from the support and visibility provided by a
listing and trading environment tailored to their needs, while the profile and
reputation of TSX Venture Exchange companies will be enhanced as a result of
the overall improved quality of the main TSX Venture Exchange stock list.
For more information on the NEX market and its issuers,
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income
inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Calgary and Vancouver.
For further information:
For further information: Steve Kee, Director, Corporate Communications,
TSX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)