TMX Shorcan Brokers

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 Update	Unknown
Headquarters	Toronto, Ontario, Canada
Established	1977
Market Cap US$	N/A
Revenue US$	N/A
Employees	N/A
Ownership	TMX Group
Management	President: Michael Gibbens Chief Commercial Officer: Heath Tomlinson VP Electronic Trading: Mark Vancea

Website Analysis

URL	https://www.shorcan.com
Alexa Rank	N/A
Type	Data Source
Client Case	Inter-Dealer Broker
Coverage	Canada
Asset Classes	Unknown
Trading	YES
Terminals	Unknown
Feeds	YES
Analytics	Unknown
Compliance & Risk	Unknown
Indices & Benchmarks	Unknown
Reference Data	Unknown
Economic Data	Unknown

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

Presence	Canada
Market	Investment Banks
Competition	BGC Partners, Freedom International Brokers, TP ICAP, Tradition
Availability	Direct from TMX and TMX Shorcan