The Ontario Securities Commission is seeking comment on an application from CanPx Inc. to become the information processor for the debt market.

On August 8, 2001, CanPX filed to become the information processor for unlisted debt securities under the ATS Rules. The information processor will collect order and trade information for government debt securities and corporate debt securities from marketplaces, inter-dealer bond brokers and dealers executing trades of corporate debt securities and will create a consolidated feed and distribute it to information vendors, news services and other customers.

The OSC is now seeking comments on the application from market participants. Comments are due by February 18. Subject those comments however, the OSC says it intends to recommend to each securities commission that it is not prejudicial to the public interest for CanPX to become the information processor for unlisted debt securities.

CanPX is a corporation formed in 1998, which entered into an agreement with 13 investment dealers and four inter-dealer bond brokers setting out how CanPX must organize itself and conduct its business. On November 16, 2001, CanPX entered into a contract with Moneyline Telerate under which Moneyline developed the CanPX Transparency System and agreed to act as a technical facilitator and exclusive worldwide sales agent for the CanPX Transparency System.