• Elimination of Marketplace Rebates

    Marketplace rebates create conflicts of interest, distort routing practices and impact quality of execution. Together we can change that.

    Guest post by Chief Business Officer Joacim Wiklander February 1st, 2017 On March 1st, 2017 NEO intends to significantly lower the cost of trading and reduce the rebates we offer on the maker-taker fees in its LIT Book (subject to regulatory approval). We are doing this because we fundamentally believe that payment for order flow by marketplaces generates a conflict of interest between the... read more
  • The Smoking Gun: A $105 Million Tax on Canadian Markets

    The first academic paper to examine the TSX Alpha speed bump, Dr. Sean Foley’s “The Value of a Millisecond: Harnessing Information in Fast, Fragmented Markets” has been published and it comes to a troubling, but not unexpected, conclusion: the TSX Alpha speed bump is detrimental to overall Canadian market quality and has only benefited predatory High Frequency Trading strategies. Reading this... read more
  • Canada Makes History

    September 15, 2016

    This week is an exceptional week for the Aequitas NEO Exchange and the Canadian Capital Markets overall. For the first time ever, a provider of Canadian ETFs announced its intent to migrate ETF listings from the incumbent Toronto Stock Exchange to another Canadian stock exchange: NEO. BlackRock Canada announced its intent to migrate 5 iShares funds, consisting of 12 ETF listings, to NEO in the... read more
  • New Milestones for NEO Exchange

    May 2, 2016

    Guest post by Chief Business Officer Joacim Wiklander As you all know, the NEO Exchange closed the first quarter bringing competition to the listings space with the successful launch on March 31st of our first listing, PowerShares DWA Global Momentum Index ETF (DWG). As you also all know, it was on March 27, 2015 that the NEO Exchange launched its trading platform with the goal of bringing a new... read more
  • NEO Exchange First Listing Celebration

    March 31, 2016

    This morning we were delighted to celebrate the first listing on the Aequitas NEO Exchange: Invesco Canada’s PowerShares DWA Global Momentum Index ETF, trading under the symbol DWG. Twenty-six years ago, the Canadian capital markets created an innovative and disruptive investment product: the Exchange Traded Fund. This product revolutionized investing for the average Canadian investor and... read more
  • First Public Listing Application - PowerShares ETF

    Jan 28, 2016

    Very proud and pleased that today we reached another key milestone in our journey for better Canadian capital markets: the first application for a public listing on the Aequitas NEO Stock Exchange.    Now I am comfortable to say that we are a fully fledged stock exchange combining both a trading and a listing platform. Now I am comfortable to say that investors, capital-raising companies and the... read more
  • Stand Up for Competition!

    Dec 8, 2015

    Last week, I zoomed in on how the Aequitas NEO Exchange has been positively impacting trading in Canada to the benefit of fairness and quality of execution, and, ultimately, in the best interest of investors and capital-raising companies. We are pleased to see these positive developments, but also realize the Canadian capital markets face many other pressing issues. Not the least of them is the... read more
  • Yes We Can!

    Dec 1, 2015

    When we started Aequitas [Latin for Fairness] in June 2013, we embarked upon an ambitious journey to address multiple issues facing the Canadian capital markets: Bring more fairness to securities trading by establishing a marketplace that would counter predatory high frequency trading; Develop liquidity in the publicly listed securities that need it most and are apt to be publicly... read more
  • The Next Generation of Mutual Funds

    Nov 13, 2015

    Today we announced our latest disruption, Aequitas PTF Connect:  a next generation technology platform that, for the first time on an industry-wide basis, enables actively managed mutual funds to be traded and settled with the ease and efficiency of stocks and ETFs. Mutual funds purchased and redeemed this way is what Platform Traded Funds or PTFs are. Aequitas PTF Connect is the platform... read more
  • A Bad Day for the Canadian Markets

    August 28, 2015

    My previous blog on best execution and marketplace speed bumps led to a lot of reactions: mostly positive, one negative (anonymous) and a few along the lines of "interesting, but how do we know you are not just preaching for your own business?" For the last group, I have good news. Two months before I wrote my blog and it only hit my desk yesterday, Adam Sussman, Head of Market Structure at... read more