CNQ/Pure Trading

CNQ/Pure Trading

September 14, 2007 18:57 ET

Pure Trading Successfully Closes First Day of Trading

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2007) - Canadian Trading & Quotation System Inc.'s ("CNQ") Pure Trading marketplace has successfully completed the first day of trading for its continuous auction market facility. For the day, Pure Trading handled more than 10,000 orders from the Canadian dealer community, and traded 12,300 shares valued at more than $1.1 million. Pure Trading is currently offering trade execution services for three stocks (Aber Diamonds "ABZ", Fairfax Financial "FFH" and iShares™ CDN Energy Sector Index Fund "XEG"). A complete summary of the day's activity on Pure Trading can be found at www.puretrading.ca.

The launch of Pure Trading is the culmination of an industry wide effort over the course of more than a year. "Today's launch was about ensuring community connectivity to the market so we're quite pleased with the level of activity we saw in the three stocks", said Ian Bandeen, Vice-Chairman and CEO of CNQ. Additional stocks will be added to the service following consultation with participating dealers and service providers in the coming days. This strong, stable and steady start will allow Pure Trading to add additional equity listings in a timely fashion with the goal of adding all equities traded on the Toronto Stock Exchange in the near future.

With 65 participating dealers, representing more than 95% of the daily equity trading volume in Canada, Pure Trading is the first competitive fully electronic equity auction market to ever launch in Canada.

(i) "iShares" is a trademark of Barclay's Global Investors, N.A.

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