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Snow covers the Scotiabank logo at the Bank of Nova Scotia headquarters in Toronto December 16, 2013.
Snow covers the Scotiabank logo at the Bank of Nova Scotia headquarters in Toronto December 16, 2013.
(Chris Helgren/REUTERS)

streetwise

Brokers ride out the market slowdown

Canada’s brokerage business has been extraordinarily resilient through very tough times, and it is beginning to pay off for those who have persevered.

After two years of relentlessly slow markets, business is rebounding in a significant way for firms that focus on trading and underwriting stock.

Last week was the busiest week for stock underwriting since 2009, with 14 transactions valued at $4.4-billion, according to figures from Canadian Imperial Bank of Commerce. That total includes the $2.3-billion sale of CI Financial stock by Bank of Nova Scotia.