These can be tough times for equity traders. Computerized trades are eating into their market share, and trading volumes have fallen. Yet Canadian trading desks continue to donate to charity.
Across Bay Street, multiple investment banks now donate a full day's equity trading commissions to charity, meaning millions of dollars are raised to help Canadians who need support.
CIBC World Markets Inc. has long been a leader on this front with its Miracle Day. The 2014 version, which was held in early December, raised $5-million, and $79-million has been raised in total over the program's 30-year existence. CIBC takes it so seriously that their investment advisers also donate their commissions.
BMO Nesbitt Burns Inc.'s Equity Through Education continue to grow, raising money that is used to foster a more diverse workplace. The event, which was held in September, raised $1.6-million this year, and has donated more than $15-million since its start in 2005.
Scotia Capital Inc. also got in on the action in 2005, launching what is known as its Charity Trading Day, which is usually held in April. More than $3-million has been raised to support the social, emotional and physical health and well-being of Canadian children since 2005.