Canadian Trading & Quotation System Inc.’s Pure Trading facility successfully launched its continuous auction market at 9 am EDT on Friday.

The new alternative trading system boasts 65 participating dealers, representing more than 95% of the daily equity trading volume in Canada. It is currently offering trade execution services for three stocks: Aber Diamonds, Fairfax Financial, and the iShares Energy Sector Index Fund.

Additional stocks will be added to the list based on continuing consultation with participating dealers and service providers.

Market hours are 9am-5pm with a pre-open session between 7am and 9am.

Today’s launch marks the second phase of Pure Trading’s market development that began with the provision of a cross printing facility on October 12, 2006. CNQ bills Pure Trading as the first fully electronic equity market ever to launch in Canada.