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CSE trading volume triples in March

2014-04-09 14:43 ET - Street Wire

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by Stockwatch Business Reporter

Canada's alternative trading systems handled 33 per cent of trading volume during the week ending April 4, 2014. Chi-X Canada held the lead, trading an average of 89 million shares a day, or 11.3 per cent of volume. Alpha Trading Systems followed with 76 million shares a day or 9.7 per cent of volume. CX2 came third with 30 million shares a day or 3.8 per cent. Match Now, TMX Select, Pure Trading and Omega ATS shared the remainder. The Toronto Stock Exchange and the TSX Venture Exchange captured the majority with 65 per cent, and the Canadian Securities Exchange had another strong week, capturing 2 per cent.

Looking at securities listed only on the TSX, the exchange handled 59 per cent of volume. Chi-X received 15 per cent, Alpha had 11.3 per cent and CX2 had 4.3 per cent.

The CSE handled a record 310 million shares in March, almost triple its usual monthly volume, thanks to a handful of medical marijuana stocks. Last March, for example, the exchange handled 89 million shares, worth $7.8-million. This March, its 310 million shares were worth $105-million. The CSE is hoping it can keep this activity up. It says two components drove last month's growth: attractive listings and professional traders, making for the best month in the exchange's 11 years. The exchange neglected to mention that "attractive listings" means marijuana stocks.

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