The Canadian Securities Exchange (CSE) on Tuesday released performance metrics for the third quarter of 2016, highlighting continued strong growth, with records chalked in trading volume and capital raised by CSE-listed companies.
The figures build upon 64% volume growth experienced by the bourse in the first half ended in July. Read more.
The main takeaways from the latest numbers are that trading volume in CSE-listed securities climbed 138% compared with the same quarter of 2015, to 1.27bn shares while companies listed on the CSE conducted 85 financings for gross proceeds totaling C$109mln – an increase of 222% over the same period a year earlier.
The CSE finished the July-September quarter with 315 listed securities, 13 more than a year ago.
Trading on the CSE platform in securities listed on other exchanges totaled 811mln shares, showing 59% growth on a year earlier.
Metrics for January through September also set records.
With 3.27bn shares traded in CSE-listed securities that outpaced the total for all of 2015 (2.48bn shares). CSE-listed companies raised $226mln in the first nine months of the year, compared with $195mln in full-year 2015.
Trading volume already continues to gain momentum in the fourth quarter, with a record 99,688,093 shares trading in CSE listed securities on October 6. Over the past 30 days the CSE has set new records for both daily trading volume and number of trades on seven occasions.
Several CSE issuers ranked among the most actively-traded public companies in all of Canada during the quarter as investor interest increased across most industry sectors, and particularly for life sciences companies. The CSE also welcomed one of the few Initial Public Offerings completed in Canada this year when Glance Technologies Inc. (CNSX:GET) made its trading debut on September 7.
Toward the end of the quarter, the exchange announced several important executive level appointments, and the addition of a highly experienced financial industry executive to its Board of Directors. The appointments were made to expand business development coverage and deepen the pool of expertise in the listings review group.
The CSE team remained hard at work connecting with entrepreneurs, hosting events in Vancouver, Calgary, Montreal and Toronto during the quarter, as well as presenting and exhibiting at the first ever Mines and Money conference held in North America. Senior exchange staff also travelled to China and Mongolia to continue outreach efforts in growing overseas markets.
The exchange also said it will soon implement a new trading system technology featuring execution services for all equities listed in Canada. Related to this, a commitment to heightening the visibility of companies listed on the CSE through continued investor events and publications (including the CSE Quarterly magazine), plus support for market-making and other activities, will assist with further advances in volume and liquidity.
“The CSE is firing on all cylinders, with an improved capital markets backdrop helping our issuers to meet, and in some cases exceed, their financing targets,” said Richard Carleton, CSE Chief Executive Officer.
“Having added several talented executives to our team, the CSE is positioned even more strongly to facilitate access to growth capital for entrepreneurs at the lowest possible cost, while providing liquid and accessible trading services for investors anywhere in the world,” he added.
Story by ProactiveInvestors