CSE Posts Record Activity in First Half of 2016
Trading volume climbs 64% and listing requirements changes initiated
The Canadian Securities Exchange (CSE) is pleased to release an update on activity in the first half of 2016 highlighting record trading volume, changes to listing requirements, and initiatives to help CSE issuers build on recent positive momentum in financing and other aspects of corporate development.
- Trading volume in CSE listed securities grew 64% compared to the first half of 2015 to 2.01 billion shares;
- The CSE finished the first six months of 2016 with 328 listed securities, up 12.3% compared to the same period the previous year;
- CSE companies conducted 178 financings for total gross proceeds of $123 million, up 28.4% over the first half of 2015;
- Trading on the CSE in securities listed on other exchanges totaled 1.82 billion shares, an increase of 19.1%.
Growth in trading volume and financing proceeds during the first half of the year reflected both the increased number of securities listed on the CSE and noticeable improvement in Canadian investor sentiment across all sectors. The 2.01 billion shares traded in CSE listed securities in the first six months of 2016 puts the exchange well ahead of its pace of 2015, when a record 2.47 billion shares traded for the full year.
The CSE is proud to highlight a busy first half supporting issuer outreach to the financial community with a variety of activities. These include CSE Days held in major cities where executives enjoy the opportunity to present to audiences of financial industry professionals, retail investors and issuer peers.
The exchange also published new issues of its CSE Quarterly magazine, the most recent leading with a profile of the CSE's top performing companies as measured by growth in market capitalization (the CSE Quarterly magazine can be viewed at http://blog.thecse.com/2016/06/01/cse-quarterly-issue-9-now-live/.
In addition, the CSE launched a new website in April. The modern format makes it easier for investors to gather information on CSE companies, and for both existing and prospective issuers to access the resources they need to make interaction with the exchange as efficient and cost-effective as possible. The CSE's new website can be accessed at www.thecse.com.
Other achievements in the first half of 2016 included a comprehensive update to initial listing requirements. Proposed changes were published for comment in February and following feedback the modified rules were submitted for regulatory approval. The new requirements will become effective in Q3 upon publication of a notice from the exchange.
In the second half of 2016, the exchange will work to finish a review of continued listing requirements for listed companies. A list of proposed amendments will be published for comment in the near future.
"The CSE team is constantly working on new and dynamic ways to drive our mandate, which is supporting entrepreneurs and lowering the cost of capital for early stage companies," said Richard Carleton, CEO of the Canadian Securities Exchange. "The activities we undertook in the first half of 2016 made our offering as an exchange stronger, as evidenced by growth in both trading volume and financings closed by our issuers. We will continue to support CSE listed companies with a variety of public efforts, and by working with regulatory authorities to improve the operating environment for Canadian financial markets as a whole."