Toronto-based CNQ, the Canadian Trading and Quotation System Inc., is no longer. The company has re-launched itself as Canadian National Stock Exchange Markets Inc., a full service national stock exchange.

Ian Bandeen, CEO of the exchange, made the announced on Wednesday.

Under the acronym of CNSX, the five-year old exchange will feature lower list fees, no filing fees and more products said William Woods, newly appointed managing director of CNSX Markets Inc.

A lawyer, admitted to practice in Bermuda, England, Wales and Hong Kong, Woods has specialized in corporate finance and the forward direction of stock exchanges for over two decades.

He will work with Bandeen, and Rob Cook, president of CNSX to drive the growth strategy and the implementation of new products and listing policies.

CNSX will also use X-Stream trading technology, the same trading platform as Pure Trading, a high speed trading system that can process 5,000 transactions per second.

“Firms will also be required to provide monthly disclosure,” said Woods.

With 100 securities listed on the exchange, Woods said, more rules for exchange-traded funds and structured products will follow shortly.

Back in October, CNQ announced a new trading fee schedule — based on a per share model — which offers lower rates and directly competes with other stock exchanges in Canada

IE