Ontario would appear to be moving closer to a junior mining stock exchange with the formation of National Quotes Inc., an outgrowth of the coats system (short for Canadian Over-The-Counter Trading System) recently launched and administered by the osc to replace the previous rather inadequate system of trading securities on the Over-the-Counter market.
The new company is now “going public” through an offering of 2,000,000 class A subordinate voting shares at $1.60 per share through the international offices of the firm of Midland Doherty Ltd., designed to net its treasury $2,776,000. Of this, $1,800,000 is to be earmarked for additional computing capacity and software.
Significantly, the president and chief operating officer of National Quotes is John F. Leybourne, former deputy director of the osc’s enforcement branch w ho fathered the coats trading system.
The new company has acquired two interlocking operating subsidiaries — nasdaq Inc. and coats Directory Publishers Inc. The latter was formed by Connie Bailie who becomes chairman of the board. It was Ms Baillie who launched the coats Directory and the upcoming tse Digest. nasdaq will be the electronic international marketing arm, providing investors instant quotations and other stock data.
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