On November 12 at 10:00 a.m. a full house in Toronto?s Design Exchange heard the CNQ message ? and they liked what they heard. The Chairman of CNQ, Ian Bandeen, discussed the successful launch, in July 2003, of Canada?s innovative new stock market. He followed this by outlining the key results from a recent survey conducted independently on behalf of CNQ which shows dissatisfaction with the perceived value of listing on the TSX Venture. A majority of respondents in the survey indicated that CNQ?s cost structure and its innovative Market Maker model is are clear improvements.
CNQ?s President and CEO, Robert Cook, explained the benefits and relative ease of becoming an Issuer on the CNQ. In terms of initial costs CNQ is significantly lower than Canadian and US stock exchanges and, aside from a modest monthly maintenance fee, there are no other costs to Issuers. CNQ is currently charging new companies only $2,000 to obtain a quotation plus $8,000 to be paid within six months.
Paul Chalmers, Executive VP of Canaccord Capital, outlined his firm?s strong views, which are very supportive of a vibrant competitive environment. He favours the CNQ model and sees the new exchange playing a strong role in providing liquidity and visibility to emerging companies. Mr. Chalmers advised the gathering that the cost-effective regulation program combined with the Market Maker model, as championed by CNQ, will help to greatly increase the liquidity of Issuers? shares on CNQ.
Also speaking at the event, Adam Szweras of the law firm Fasken Martineau, told the audience about his positive experiences working with CNQ in his capacity as counsel to an Issuer making an application. He complimented CNQ on the simplicity and effectiveness of the requirements and the process.
With over 200 Key people in attendance, and the recent press about CNQ, the interest and the momentum is growing ? CNQ fully expects its list of Issuers to build steadily over the coming weeks and months.