RBC Capital Markets today announced TSE/CDNX Markets Inc. has been chosen by a group of investment firms to provide the printing facility for reporting cross trades to the marketplace. A cross trade occurs when two accounts within participating organizations wish to buy and sell the same stock at an agreed price and volume.

“The process involved a global search for the best practices and technology,” said John Reilly, managing director, Global Equity, RBC Capital Markets. “Ten international firms that had either built or operated exchange type marketplaces responded to our request for proposal. As a measure of both cost and efficiency, the TSE proposal was ultimately successful. With a few modifications to their current technology, they offered the best facility to conduct our cross trading business. We are pleased to be forming this partnership with the TSE as this initiative further enhances our long-standing relationship with the Exchange.”

As leader of this multi-dealer initiative, RBC Capital Markets sent out requests for proposals in November 2001 for a crossing facility that would reduce fees on block trade reporting. This new facility, to be provided by the TSE/CDNX, will result in approximate savings of $2 million in annual fees for the top six bank-owned brokerages in Canada.

“This win demonstrates our commitment to providing consistently high quality, competitively priced products and services to our customers,” said Richard Nesbitt, president, TSE/CDNX Markets Inc. “The Exchange is committed to delivering value to our customers and looks forward to finding new ways to build on this initiative.”

The TSE/CDNX Cross Printing Facility and new fee structure will be introduced on June 1, 2002. The new facility will be accessible to participating organizations with a monthly trading value on the TSE in excess of $8.5 billion. The TSE/CDNX will release its new pricing schedule to dealers over the next few days.