The IDA and OSC has approved CollectiveBid Systems Inc.’s CBID Securities Inc. as Canada’s first fixed-income alternative trading system.

“We are excited to be recognized as Canada’s first approved fixed-income ATS and the opportunity to bring the benefits of electronic fixed income trading systems to Canadian capital market participants at both the retail and institutional levels” said Laurence Rose, president and CEO of CollectiveBid and CBID.

CollectiveBid currently operates Canada’s first and only multi-dealer retail electronic fixed income marketplace with JP Morgan Securities Canada and Laurentian Bank Securities as liquidity providers. Participants in this marketplace, among others, include E*Trade Canada Securities Corp., Dundee Securities Inc., Charles Schwab Canada Co., Yorkton Securities Inc., and Canaccord Capital Corporation.

CBID is also set to launch an institutional fixed income marketplace, which will utilize technology developed by its parent, CollectiveBid. This system will represent Canada’s first real time anonymous transaction system allowing approved institutional investors to execute orders in Canadian fixed income securities in an open and liquid marketplace.

“We look forward to introducing our institutional ATS platform which will provide approved participants with direct access to an anonymous electronic real-time marketplace where transparency is fundamental, execution is expedited and execution costs minimized,” concluded Rose.