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csc chapter 1

FINANCIAL MARKETS

QuestionAnswer
PRIMARY MARKET IS new securities sold by the Govt and companies for the first time (IPO s)
Secondary market Is Buyers and sellers trade among each other,The issuing company does not receive any proceeds from this .
Two types of secondary markets Auction and dealer market.
Bid Highes price buyer will pay for the security
ask lowyest price seller will accept .
Spread Difference between Bid and ask .
Last price Price at which the last trade on the stock took place .
market price Last price is also called as market price.
Canadian exchanges Common ,preferred shares , rights , warrants,listed options,futures contracts,installment receipts , etfs, income trusts and few convertible debentures
Liquidity is characterized by Frequent sales ,Narrow spread, Small price fluctuations
Seven Stock Exchanges TSX,TSX Venture EX, Alpha EX,The Montreal EX(MX), NGX-Natural gas exchange,Canadian stock ex (CSE), ICE Futures Canada
TSX Lists Senior Equities ,some debt instruments that are convertible into the equity abd ,income trust and etfs
Tsx venture junior equities abd few debt instruments
The alpha ex offers trading in securities listed on the TSE and TSX venture
CSE trades equities of emerging companies
MX Financial and equity future options
Ice Agricultural Futures and options .
NGX North american natural gas and electricity markets
Securities trading in canada existed since 1832
TSE became Canada's senior equities Market gave up its participation in the derivatives and junior equity markets on March 1999
Alberata EX +Winnipeg SE+ Vancouver Stock EX=junior equities market =Canada venture ex(cDNX) consolidated the operations of Canadian dealing network ex in October 2000
cndx became the TSE's wholly owned subsidiary . 2001
"TSE" re branded to "TSX" while" CNDX" re branded to "TSX Venture Exchange" April 2002
TSX went public Nov 2002
Trading on CSE is regulated by IIROC
Other Canadian exchanges follow UMIR-Universal market integrity rules.
TMX group aquired 100 % of NGX in 2004
winnipeg commodity exchange became wholly owned sub of ICE =ICE futures Canada. trades canola, barley and wheat.in 2007
Tsx and tmx merged from Montreal group in 2008
Maple group aquired TMX as a result maple group was named asTMX group limited 2012
The alpha ex begins the operations 2012
Created by: Kolimanja003