(November 29 – 10:35 ET) – The CDNX index opened today. It began at 2000 and has since moved up about 1%, or 22 points.
The new exchange lists 2,500 firms – primarily the listings of the former Alberta and Vancouver stock exchanges. It plans to expand to 3,000 listings as the rest of the markets sort themselves out. It’s anticipated that Canadian Dealing Network companies will begin trading through CDNX in mid-2000.
Bill Hess, CDNX’s president and CEO, is stressing the new exchange’s role in the junior market. “Serving as an incubator and mentor will be a key role of the new exchange. We will assist young companies in getting financing and we will help them grow and move onto a senior exchange.”
CDNX’s new websiote features delayed stock quotes, its policies and procedures and corporate information. The new exchange also introduces INFOCDNX, an online database that provides detailed information on each listed company; and the Capital Pool Program (CPC), initially being offered in Alberta and B.C.
-IE Staff
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