Transparency in the Canadian debt market got another boost today, with news that the electronic market, CanDeal, has started displaying corporate bond trading data collected by information processor, CanPX, on its site.
The organizations announced today that CanDeal has begun displaying CanPX’s trading data for 336 Canadian corporate bonds on its public website. Until now, CanDeal has only displayed data for corporate bonds from the dealers that participate in its network. But, last month, CanPX began providing free corporate bond pricing data on certain issues.
The move by CanDeal to start distributing CanPX’s corporate bond data further bolsters transparency in the historically opaque debt markets. Along with the corporate bond data, CanDeal is also disseminating CanPX data on government bonds and treasury bills.
“CanDeal has consistently been a proponent of optimal transparency for the Canadian OTC debt and derivatives markets. Evolving to an optimal level of transparency requires taking into account the varying needs of all marketplace participants and the distinct qualities of the Canadian marketplace,” says Jayson Horner, co-founder, president and CEO of CanDeal.
“We are supportive of the efforts made by CanPX, and we look forward to developing broader solutions with CanPX and with other partners and stakeholders in order to deliver accessible, affordable tailored products and services to all levels of market participants,” Horner adds.
Last month, CanPX said that it intends to expand the list of bonds that it provides data on over time. “CanDeal’s experience, technology capabilities and strong recognition among Canadian and international market participants will further broaden the reach of CanPX’s transparency efforts,” says Richard Van Nest, president of CanPX.