I'm surprised that they have reinstated the market depth. After the TSE bought the Venture exchange they got rid of the delayed market depth feature. I wrote an e-mail to complain and here was their reply.
At the time, I was convinced that it was simply a revenue grab in vue of their upcoming IPO:
Dear Philip:
Thank you for taking the time to express your opinion regarding our recent decision to discontinue the Market Depth information on the CDNX.com web site. Your feedback is important to us and is appreciated.
The TSE is committed to expanding and enhancing the Canadian capital markets. As you are likely aware, CDNX provides the TSE with almost 40 percent of its new listings annually, so securing and building the junior market is key to the TSE's future growth. We are confident that the upcoming migration of CDNX trading to the TSE's new trading engine will help greatly expand the scope and range of CDNX issuers, and that trading and liquidity for these issues will increase as a result.
The decision to discontinue the Market Depth information on the CDNX web site reflects our opinion that delayed Market Depth data does not reflect up-to-date trading conditions, as the information is not current by at least 15 minutes. No other exchange in North America provides or permits the dissemination of delayed Market Depth information because it can be misinterpreted as real-time data.
As was mentioned in the Market Depth Discontinuation Notice to which you responded, a number of initiatives are underway to leverage the strengths of both the TSE and CDNX organizations in order to provide more effective and efficient service to our customers. The migration of CDNX trading to the TSE's new trading engine is only one of these initiatives. Another is
the redevelopment of the CDNX web site in conjunction with a new and improved TSE web site. The site will allow visitors to access information on both CDNX and TSE markets in one user-friendly web environment, and will include a number of new features. These include an enhanced personalized Stock List that will allow you to track TSE stocks, CDNX stocks, and mutual funds within the same list. The new site will also offer a wealth of Investor Education information and resources such as educational tools and programs, assistance in understanding the stock markets, and articles on personal finance.
The TSE is committed to serving the needs of both the senior and junior exchange markets in Canada, and to providing relevant, timely and accessible information to all Canadian market participants. We thank you for your comments.
Steve Kee
Director, Media Relations & Publicity
Public Affairs & Communications
Toronto Stock Exchange Inc.
(416) 947-4682 |
