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
North America
Inter-Dealer Broker

  Corporate Details

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

  Website Analysis

Alexa RankN/A
TypeData Source
Client CaseInter-Dealer Broker
Asset ClassesUnknown
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

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