TMX Shorcan Brokers

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  Company Overview


TMX Shorcan Brokers is a rarity being an inter-dealer broker, rather than MTF, owned by an exchange (Yieldbroker part owned by ASX in Australia is another example) The company was originally established by US Dealer Carroll McEntee & McGinley before being sold to ICAP, which in 1998 accepted an employee buy-out. Shorcan was purchased in 2006 by the Toronto Stock Exchange for CA$20 Million The company only focuses on Canadian Bond securities serving IIROC registered broker-dealers and CDCC registered entities. The buy-side does not participate. Trading is conducted either electronically or by voice In 2018 Shorcan DCN entered into a 10 year deal with Paycase to develop a cryptocurrency platform for trading digital assets, however this initiative proved short lived Shorcan energy was sold as part of the Trayport acquisition

Type of business
Data Source
Region
North America
Specialisation
Inter-Dealer Broker

  Corporate Details


Date of UpdateUnknown
HeadquartersToronto, Ontario, Canada
Established1977
Market Cap US$N/A
Revenue US$N/A
EmployeesN/A
OwnershipTMX Group
ManagementPresident: Michael Gibbens Chief Commercial Officer: Heath Tomlinson VP Electronic Trading: Mark Vancea

  Website Analysis


URLwww.shorcan.com
Alexa RankN/A
TypeData Source
Client CaseInter-Dealer Broker
CoverageCanada
Asset ClassesUnknown
TradingYES
TerminalsUnknown
FeedsYES
AnalyticsUnknown
Compliance & RiskUnknown
Indices & BenchmarksUnknown
Reference DataUnknown
Economic DataUnknown

  Key Products & Services


Fixed Income: Canada Government, Provincial, Corporate Bonds Others: Cash Management Bills (CMB) Repurchase Agreements, and Swaps Market Data: Canadian fixed income and securities pricing


  Business Potential


PresenceCanada
MarketInvestment Banks
CompetitionBGC Partners, Freedom International Brokers, TP ICAP, Tradition
AvailabilityDirect from TMX and TMX Shorcan
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