CNSX Markets Inc. Friday released preliminary results for trading and listing on CNSX – Canadian National Stock Exchange.
Trading activity in 2011 was robust as the volume of shares traded rose 45% over the previous year, reflecting continued interest in the shares of the public companies listed on CNSX. Value of trading was also up 27% while the number of trades increased by 32%.
This activity was partly fuelled by a net increase of 12% in the number of securities listed, including equities, bonds and structured products. With 35 new listings in 2011 the exchange ended the year with 144 issuers and 163 listed issues.
“These results are the continuation of the steady development of the exchange since it was recognized by the OSC in 2004”, noted Robert Cook, President. “An unbroken string of growth in the number of listings sets CNSX apart not only from its more established competitors but also from other newer markets around the world like the AIM in the UK.”
2011 also saw the largest initial public offering to date on CNSX, as the IPO of Brookfield’s New Horizons Income Fund raised $130 million in April.
Late in the year CNSX began listing structured products, with four new series of debt securities issued by Barclays Bank PLC and BAC Canada Finance Company, a subsidiary of Bank of America.
“The first listing of 2012 was another note issued by Barclays. We expect that the structured products segment will form an ever larger part of CNSX’s listed securities product mix throughout the year,” noted William Woods, managing director – listed market.
“In 2012 we are also restructuring our fees to facilitate greater liquidity in all of the securities that we trade”, added Richard Carleton, interim CEO of CNSX Markets. “Issuers are able to take advantage of the cost effectiveness of the exchange’s listings process and retail investors benefit from the transparency of the exchange’s rules in trading and corporate disclosure”, he added.
Toronto-based CNSX Markets operates two distinct markets: The Canadian National Stock Exchange; and Pure Trading, which provides a high-speed trading venue for stocks listed on Canadian exchanges.