(July 11 – 10:40 ET) – Stock traders should be planning ahead for this fall’s expected transfer of the Canadian Dealing Network to the CDNX.
Once CDN is transferred to the CDNX three tiers of listings will be introduced, and all of them will be traded on the electronic TradeCDNX, scrapping the CDN’s phone-based market maker system.
In a notice to members the CDNX suggests that firms which trade CDN-quoted securities begin planning for additional TradeCDNX Trader workstations required for their CDN traders. Firms should determine the impact of additional terminals on their current CDNX network circuit configurations. It also reminds firms that Sprint Canada will not guarantee network installations in under 30 to 40 business days from the date an order is submitted.
Current CDN traders must also become registered TradeCDNX traders through their firms, and their firms must become members or participating organizations of CDNX, in order to continue trading in CDN companies. Traders must pass the TradeCDNX exam and other Canadian Securities Institute courses as indicated by the CDNX.
-IE Staff