Suppliers News: CNQ relaunches as CNSX

With just over four years under its belt, the Canadian Trading and Quotation System (CNQ) has changed its name to the Canadian National Stock Exchange (CNSX).

The stock exchange says its new name reflects its status as a full-service national stock exchange.

In order to match the expected increase in trading, the CNSX, which was launched in May 2004, will now trade on the X-Stream platform, a high-performance, low-latency trading engine that connects with the Pure Trading electronic continuous auction market.

The connection with Pure Trading gives the CNSX access to Canada’s most active alternative market, which handles 5-10% of the natural daily volumes in many of the top Canadian stops.

“We are pleased to implement these strategic changes, particularly in light of the recent market turmoil, in order to facilitate an easier, faster and less expensive listing for Canadian issuers without the red tape associated with exchanges built on older market structures,” said Rob Cook, president of CNSX, in a press release.

In addition to a new name and technology, the CNSX has appointed William Woods its new managing director.

The exchange lists more than 100 securities and is operated by CNSX Markets Inc.