The Canadian arm of Nasdaq Inc. has applied to operate an exchange in this country.
Nasdaq filed an application to become an exchange with regulators in December, about one year after the New York-based operator announced it had agreed to acquire equities trading venue Chi-X Canada to expand its trading business beyond the U.S. and the Nordic countries.
Details around what kind of exchange Nasdaq has proposed to operate in Canada have yet to be made public.
For a market such as Nasdaq, exchange status could grant it permission to expand beyond trading and begin listing issuers, which would generate initial and yearly fees for exchange and boost other areas of the business such as trading. An exchange could also be able to establish a formal market-making program, which could boost the order flow handled by the venue. Story
After commodities rout, TSX Venture exchange tries to remake itself
The TSX Venture Exchange is rebuilding from the ground up.
New managing director Brady Fletcher's top priority is ensuring that Canada's go-to market for small-cap companies, including junior energy and mining players, has a support system that can weather the next storm.
Commodity prices are recovering, but the junior exchange was hurt by the prolonged rout. As mining deals dried up, smaller dealers that cater to the junior resource space were forced to cut costs or close up shop. Regulations for issuers and brokers have also become stiffer and more costly over the years. Story
RSA rolls out program to compete more fiercely for customers
RSA Insurance Group PLC is pursuing a transformation of its Canadian business as global chief executive Stephen Hester looks to put a painful multiyear turnaround effort in the past.
After overhauling its beleaguered business, the London-based insurance company is mapping out plans to compete more fiercely for customers. RSA posted a surge in 2016 profits and improved underwriting results on Thursday that boosted the stock, and the company said it would direct attention to how it can grow consistently amid "tough" market conditions.
RSA said in its annual results that its Canadian transformation program to make the business more resilient "progressed well during the year, delivering customer retention actions, deployment of new pricing tools, process simplification" among other initiatives. It has begun rolling out new digital tools to brokers and is working on faster response times for claims. Story
DAILY DEALS
If Crescent Point Energy Corp. is being targeted by an activist investor seeking a shakeup, the company has yet to receive contact, its chief executive officer said on Thursday. Story
IN CASE YOU MISSED IT
James Bradshaw: Tangerine's chief strategy officer named new CEO Story