Canadian Trading and Quotation System Inc. (CNQ) today announced the appointment of John MacNaughton as chairman of the board.

Concurrently, Ian Bandeen becomes vice chairman and CEO and Rob Cook will continue in the role of president. “It is an honour to work closely with John again as he brings with him an unparalleled depth of experience within the Canadian capital markets that will be of enormous benefit to the company as we expand the scope of our operations,” said Bandeen, in a release.

As previously disclosed, and in addition to its traditional listed market, CNQ is working towards a launch this summer of Canada’s first visible alternative market that will allow for the trading of securities listed on the other Canadian exchanges. The goal is to provide a superior service that is markedly better, faster and cheaper than existing markets and is more in line with the needs of the global trading community.

“2006 promises to be a very exciting year for CNQ as we roll out our new alternative trading initiative,” said Cook.