CanDeal, an online institutional multi-dealer to client debt securities trading network, today announced it has launched its Provincial bond market.

The CanDeal Provincial bond market provides institutional investors with best price transparency for Provincial bond issues, which includes cash pricing and spread to benchmark pricing.

CanDeal says participants can electronically complete “outright” (single security) Provincial bond trades or “basis” (yield spread) trades between a Government of Canada bond and a Provincial bond or between two Provincial bonds. “This release demonstrates CanDeal’s ability and commitment to deliver new products and services for the benefit of our industry,” says Jayson Horner, president and CEO of CanDeal.ca Inc.

“With CanDeal, within 15 to 20 seconds, you can get a firm dealing price back from four dealers simultaneously. That’s physically not possible over the phone,” says Mark Carpani, fixed income funds manager at Mulvihill Capital Management.

The CanDeal Provincial bond market is anchored by the pricing and liquidity provided by CanDeal’s six major dealer members. CanDeal says the service will be available for a free trial period to all new and existing CanDeal users.

The CanDeal electronic marketplace is open and available to all institutional buy-side accounts and investment dealers across Canada. CanDeal was formed in June 2001.