TORONTO The CANADIAN TRADING AND QUOTATION SYSTEM (CNQ) has received formal recognition as a stock exchange from the ONTARIO SECURITIES COMMISSION (OSC). As a result of the notice, reporting issuers in any Canadian jurisdiction can apply and be listed on CNQ without first making application to the OSC to become an Ontario reporting issuer.
"This is recognition of the success of our market model as much as it is a regulatory milestone. It confirms what participants in CNQ already knowthat it’s a viable market for trading equity securities of active Canadian companies," said Robert Cook, CNQ president and CEO.
CNQ calls itself an "alternative to traditional exchanges where high costs and large capitalization requirements are often barriers to trading as a junior company’s securities." Visit www.cnq.ca for more information, rules, a list of participating dealers and contact information.