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March 9, 2021 | Article

CanDeal Data & Analytics Acquires CIBC Fixed Income Data Business

CanDeal Data and Analytics (CanDeal DNA), a leading provider of Canadian financial markets’ OTC data and information services, has acquired Canadian Imperial Bank of Commerce (CIBC)’s fixed income data business. In addition to enhancing the scope of bond data provided to DNA, CIBC’s fixed income clients will become CanDeal DNA clients.

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Feb 24, 2021 | Article

CanDeal ideal: could Canada make a sea-change in e-trading?

Electronic trading in Canada continues to gain momentum and CanDeal is playing an integral role in driving the adoption of new trading capabilities and fostering innovation. Ben St. Clair at Risk recently spoke with Jamie Grant, President of CanDeal Markets, and Andre Craig, EVP of CanDeal Data & Analytics, to examine how Canadian corporate bond markets are evolving and how CanDeal is addressing the electronic trading challenges firms have faced.

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Oct 09, 2020 | Press Release

CanDeal to Provide Canadian Bond Pricing for FTSE Russell Indexes

Toronto, October 9, 2020; CanDeal, the leading provider of Canadian financial markets, data and information services, has been appointed by FTSE Russell Canada to provide pricing for its Canadian fixed income indexes. Under the terms of the multi-year agreement which was finalized in 2019 and expected to go live in the coming months, CanDeal Data and Analytics (“CanDeal DNA”) will provide FTSE Russell with a comprehensive suite of fixed income pricing services that incorporate its proprietary performance and valuation measures.

FTSE Russell, a leading provider of global indexes, is working with CanDeal DNA to ensure a smooth transition in its Canadian Bond Index suite pricing and provisions via FastQuote service. FTSE Russell will be communicating details to its clients as any index updates are finalized.“We’re delighted to be working with such a highly-respected index provider as FTSE Russell,” said Andre Craig, Executive Vice President of CanDeal DNA. “This is the type of relationship that typifies our model, which is to deliver world-class data and analytics as fuel to drive more accurate pricing and risk management for the global investment community.”

“We are happy that CanDeal will be supporting our industry-leading Canada fixed income indexes,” said Paul Bowes, Country Head at FTSE Russell. “With this new partnership, we will further enhance the quality and scale of our indexes and the level of service we provide to our clients.”

Using proprietary algorithms and expert modelling techniques, CanDeal DNA delivers a range of pricing services and performance analytics that it creates daily to address the needs of multiple industry stakeholders. These include composite pricing and evaluated bond pricing as well as Independent Pricing Verification services for financial reporting. It also delivers custom services to the dealer community, including FRTB reporting and modelability calculations and analytics.

About CanDeal Data & Analytics
CanDeal Data and Analytics (“CanDeal DNA”) was incubated within the Solutions Group division of CanDeal and seeks to offer an array of innovative industry services that complement the core CanDeal Markets trading platform business. It was previously branded DataVault Innovations. CanDeal is a leading provider of electronic marketplaces and data services for Canadian dollar debt securities and derivatives. Its Markets division, which accounts for more than 90% of electronic trading in Canada, provides access to a deep pool of liquidity for Canadian government, agency, provincial and corporate bonds, as well as money market instruments and interest rate swaps. CanDeal Markets also delivers Canadian institutional investors with electronic access to liquidity in non-Canadian debt and derivative marketplaces. CanDeal Solutions delivers pricing and analytics services that support business, trading and technology needs for participants in the Canadian market, including DataVault Innovations, the market data hub. CanDeal’s stakeholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com

Media Contact
For CanDeal DNA:
P.J. Kinsella
EVP, Media Relations, Paragon PR
+1.973.255.7153
pj@paragonpr.com

For FTSE Russell:
Tim Benedict
Senior Communications Manager, London Stock Exchange Group

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Oct 08, 2020 | Article

Waters Technology: FTSE Taps CanDeal as One-Stop Shop for ‘Enhanced’ Dealer Data

CanDeal Data & Analytics has been appointed by FTSE Russell Canada to provide pricing services for its Canadian fixed income indexes using its proprietary performance and valuation measures. Access the full article by Max Bowie on Waters Technology (subscription required).

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Aug 13, 2020 | Article

Waters Technology | CanDeal Leverages Canadian Data Pooling Model to Build Data & Analytics Business

DNA will use CanDeal’s unique position-capturing data from the country’s top broker-dealers to create new data services.

Canadian dealer-backed fixed income and derivatives trading platform CanDeal has launched a data arm, dubbed CanDeal DNA (Data & Analytics), which will provide various OTC pricing and data services, as well as running the FRTB-inspired data pooling service that CanDeal launched last year.

Access the full article by Max Bowie on Waters Technology. (Note: Subscription required.)

Feb 26, 2020 | Press Release

CanDeal’s Data & Analytics delivers Canadian banks 400+% increase in FRTB modellability

Technology partnership with TickSmith ensures rapid delivery and scalability of data pooling platform across use cases

Toronto, February 26, 2020 – CanDeal DNA, the Data & Analytics services division of CanDeal, a leading Canadian provider of financial marketplaces, reported that as a result of its new data pooling platform, banks are seeing dramatic increases in modellable instruments under the new Fundamental Review of the Trading Book (FRTB) rules. The new platform, developed in partnership with Canadian technology provider, TickSmith delivers both regulatory compliance and a data distribution platform.

Since the launch of the new platform, BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, and TD Securities have been pooling their data and have seen dramatic increases in modellable instruments under the new FRTB rules, which imposes compliance requirements on banks’ wholesale trading activities.

“TickSmith has been a great partner in the development of a robust data pooling platform that helps Canadian banks meet FRTB requirements. While this is just one aspect of a broader need for data consolidation, preservation, protection and distribution, we are delighted to be helping the banks demonstrate the value of this important initial use case,” said Andre Craig, Executive Vice President and Head of CanDeal DNA* at CanDeal.

The related development of the scalable TickSmith GOLD platform provides an array of data pooling capabilities to a broad set of potential new clients, from the consolidation of data from disparate datasets and sources, the ingestion of that data through configurable ETL (extract, transfer, load) pipelines, as well as the normalization, validation, and anonymization of data. TickSmith GOLD also restricts data access of the end-users through secure, granular entitlement layers, allowing for cell-level control.

CanDeal DNA’s use of an AWS infrastructure provides the banks with the highest level of security with encryption at-rest and in-flight. TickSmith enables the platform to further leverage AWS capabilities and ensure that the private data is physically segregated in different buckets and sensitive information is anonymized when data is pooled. These anonymized reports are then delivered back to the client.

[*Note: At the time of this announcement, CanDeal DNA was named DataVault Innovations.]

About CanDeal DNA
CanDeal DNA (Data & Analytics) was incubated within the Solutions Group division of CanDeal, which seeks to offer an array of innovative services that complement the core CanDeal Markets trading platform business. CanDeal is a leading provider of electronic marketplaces and data services for Canadian dollar debt securities and derivatives. Its Markets division, which accounts for more than 90% of electronic trading in Canada, provides access to a deep pool of liquidity for Canadian government, agency, provincial and corporate bonds, as well as money market instruments and interest rate swaps. CanDeal Markets also delivers Canadian institutional investors with electronic access to liquidity in non-Canadian debt and derivative marketplaces operated by Tradeweb.

CanDeal Solutions delivers pricing and analytics services that support business, trading and technology needs for participants in the Canadian market, including CanDeal DNA, the market data hub. CanDeal’s stakeholders include BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.

About TickSmith
TickSmith combines cutting-edge technology and a deep knowledge in Capital Markets. Its scalable and modular GOLD software platform is crucial in today’s data-driven economy. GOLD– an acronym for gather, organize, leverage and distribute– is a robust end-to-end data management and analytics solution optimized for the cloud. Financial enterprises accumulate massive amounts of data that is scattered all over the place and key insights are lost in the mountains of data. TickSmith’s GOLD Platform securely processes thousands of data sets, productizes data flows, automates management, enrichment & delivery and enables petabytes of data.

Nov 07, 2019 | Article

CanDeal Unveils ‘More Accurate’ Bond Pricing Feed

Canadian fixed-income and derivatives trading platform CanDeal has launched a new real-time pricing service for Canadian bonds, dubbed MarketPrice, which incorporates new pricing inputs and artificial intelligence (AI) to provide a more accurate reflection of market prices, as well as expected price movements.

“By incorporating several factors, we are able to produce an indicative price not only for where trades are taking place now, but where they are likely to take place in the future,” says Jamie Grant, President of CanDeal Markets.

Access the full article on WatersTechnology. (Note: Subscription required.)

Mar 12, 2019 | Press Release

TickSmith to Power New CanDeal Market Data Hub

Toronto, March 12, 2019; CanDeal, the leading institutional electronic marketplace for Canadian debt and derivatives trading, has selected TickSmith to power its recently-announced market data platform. By deploying the TickSmith Data Pooling Platform, CanDeal is able to more quickly and reliably launch the CanDeal DNA* data-as-a-service business.

Engineered with big data technology to be flexible, secure, and scalable, TickSmith’s Data Pooling platform will manage the core data pooling for CanDeal DNA (Data & Analytics), from ingestion and normalization to analytics, entitlements and delivery.

The CanDeal DNA service will consolidate and distribute Canadian over-the-counter (OTC) multi-asset class data from banks and other contributors directly to end-users as well as through third-party distributors. It will also provide evaluated pricing, risk, and analytics services to help comply with regulatory mandates, improve internal risk models, and address other business requirements for market participants.

“TickSmith provides the well-tuned engine that CanDeal DNA needs for peak performance,” said Andre Craig, Head of CanDeal DNA. “As an industry service, CanDeal DNA will not only provide the premium data to fuel more impactful product development; it will lead to more reliable benchmarks, expanded access to quality OTC data and vastly improved risk management and regulatory compliance for FRTB and other mandates.”

“The consolidation of this OTC multi-asset class data is without peer in the domestic market, which is why we’re so proud to have been asked to build the technology to support,” said Francis Wenzel, CEO of TickSmith. “With our experience in the capital markets, we’re confident that we can deliver an unmatched service to CanDeal DNA, that will be robust enough to support an array of data, services and clients for years to come.” TickSmith’s big data management technology operates alongside other applications, analytical/AI/machine learning and business intelligence tools, and is used to manage both public and private data. It has been trusted by exchanges and banks for six years.

[*Note: At the time of this announcement, CanDeal DNA was named DataVault Innovations.]

About CanDeal
CanDeal is a leading provider of electronic marketplaces and data services for Canadian dollar debt securities and derivatives. Its Markets division, which accounts for more than 90% of electronic trading in Canada, provides access to a deep pool of liquidity for Canadian government, agency, provincial and corporate bonds, as well as money market instruments and interest rate swaps. CanDeal Markets also delivers Canadian institutional investors with electronic access to liquidity in non-Canadian debt and derivative marketplaces operated by Tradeweb. CanDeal Solutions delivers pricing and analytics services that support business, trading and technology needs for participants in the Canadian market, including CanDeal DNA, the market data hub. CanDeal’s stakeholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.

CanDeal DNA was incubated within the Solutions Group division of CanDeal, which seeks to offer an array of innovative services that complement the core CanDeal Markets trading platform business.

About TickSmith
TickSmith specializes in Big Data technology and believes the increase in quantity and variety of data is a once in a generation change in Capital Markets infrastructure requirements. Driven by more data intensive data requirements for trading, compliance, artificial intelligence and machine learning, there has never been so much traditional and alternative data to work with. TickSmith’s highly scalable platforms, built on open-source technologies, are crucial in today’s data-driven world.

MEDIA CONTACTS
For CanDeal
PJ Kinsella
pj@paragonpr.com
646.558.6226

For TickSmith
marketing@ticksmith.com
514.360.6369

Feb 12, 2019 | Press Release

CanDeal partners with six Canadian Banks to Create Market Data Hub

Toronto, February 12, 2019; The six largest Canadian banks have partnered with CanDeal to create the country’s first comprehensive fixed income and derivatives market data hub. The Data-as-a-Service (DaaS) business, CanDeal DNA (Data & Analytics), intends to produce best in class pricing and analytics data to address the growing data needs of participants and regulators. [*NOTE: DataVault Innovations has since been re-named as CanDeal Data & Analytics, or CanDeal DNA.]

While presently ingesting data from each of the six banks, CanDeal DNA* is actively seeking an inclusive strategy to engage all other marketplace data contributors.

CanDeal DNA will be a consolidation and distribution point for Canadian over-the-counter (OTC) bond and derivatives data, which will be available directly to end-users as well as third-party distributors. It will also provide evaluated pricing, risk and analytics services to help comply with regulatory mandates, improve internal risk models and address other business requirements for market participants. CanDeal DNA is building the technology foundation and will be implementing global governance standards to fulfill pricing benchmark administrator duties.

“The creation of a central pricing and analytics data hub is an important leap forward for the Canadian markets,” said Jayson Horner, CEO and co-founder of CanDeal. “By recognizing data rights for contributors while expanding access to broad, high quality OTC data, CanDeal DNA will enable the entire industry to vastly improve risk management and regulatory compliance. Consolidation of market data is also a significant step towards the formation of a suite of benchmark products for the domestic markets.”

“The DaaS product suite will facilitate innovation among market participants and vendors,” said Andre Craig, Head of CanDeal DNA. “While highly secure, the platform is being built to ensure interoperability with other solution providers to spawn new products in Canada and other markets. This will enable us to provide better industry solutions more quickly to a wider group of clients and interested parties.”

The new services will adhere to global best practices in terms of data management, big data technologies, information security (Infosec), and leverage regulatory frameworks such as Basel lll and IOSCO principles. CanDeal DNA will benefit from CanDeal’s experience as a nationally regulated ATS and deep experience in the Canadian OTC markets.

CanDeal DNA was incubated within the Solutions Group division of CanDeal, which seeks to offer an array of innovative services that complement the core CanDeal Markets trading platform business.

[*Note: At the time of this announcement, CanDeal DNA was named DataVault Innovations.]

About CanDeal
CanDeal is a leading provider of electronic marketplaces and data services for Canadian dollar debt securities and derivatives. Its Markets division, which accounts for more than 90% of electronic trading in Canada, provides access to a deep pool of liquidity for Canadian government, agency, provincial and corporate bonds, as well as money market instruments and interest rate swaps. CanDeal Markets also delivers Canadian institutional investors with electronic access to liquidity in non-Canadian debt and derivative marketplaces operated by Tradeweb. CanDeal Solutions delivers pricing and analytics services that support business, trading and technology needs for participants in the Canadian market, including CanDeal DNA (Data & Analytics), the market data hub. CanDeal’s stakeholders include: BMO Nesbitt Burns Inc., CIBC World Markets, National Bank Financial Inc., RBC Capital Markets, Scotia Capital, TD Securities and TMX Group.

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