Heading for a trading record?
So much for the becalmed month of August.
The TSX is heading for a record in terms of value of shares traded. As of yesterday's close, the exchange reported stock worth $142-billion had changed hands, just shy of the record $154.9-billion set in May, and still with three trading days to go.
Still, it could be a photo finish if Friday is the usual sleepy pre-long-weekend day.
The volume is good news for TSX shareholders, who earn money every time the exchange processes a trade.
Montreal Exchange holders should also be feeling a little better, as both equity options trading and interest-rate futures action should perk up. Rate futures, the biggest business for MX, had slumped in the early part of the year when most traders felt they had a good handle on what the Bank of Canada would do.
But now, with the credit crunch throwing rate forecasts into doubt, everybody's going to have to revamp their positions, and that means fees for the MX.
The TSX is heading for a record in terms of value of shares traded. As of yesterday's close, the exchange reported stock worth $142-billion had changed hands, just shy of the record $154.9-billion set in May, and still with three trading days to go.
Still, it could be a photo finish if Friday is the usual sleepy pre-long-weekend day.
The volume is good news for TSX shareholders, who earn money every time the exchange processes a trade.
Montreal Exchange holders should also be feeling a little better, as both equity options trading and interest-rate futures action should perk up. Rate futures, the biggest business for MX, had slumped in the early part of the year when most traders felt they had a good handle on what the Bank of Canada would do.
But now, with the credit crunch throwing rate forecasts into doubt, everybody's going to have to revamp their positions, and that means fees for the MX.
posted by Buddy at
8:02 PM
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