It is not exactly new, as it was launched in March 2015, and now has approximately 60 listed securities, mostly ETFs and other Funds, with one listed equity to date.
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Video Transcript:
I’m Samantha Deutscher for Investmentpitch Media
We recently discovered the NEO stock exchange, Canada’s newest stock exchange.
It is not exactly new, as it was launched in March 2015, and now has approximately 60 listed securities, mostly ETFs and other Funds, with one listed equity to date.
According to the latest information posted on the exchange’s website www.aequitasNEO.com, dated November 2017, the exchange claims to have 10.2% of the market share of volume trade.
Daily volume exceeded 90 million.
It is similar to the Canadian Securities Exchange in that it is privately owned, unlike the publicly traded TMX Group.
Its shareholders include some well-known names in the Canadian financial markets, as well as a couple of investment firms including Leede Jones Gable and RBC Dominion Securities.
Similar to the other Canadian exchanges, its membership includes more than 60 investment firms along with 15 discount firms.
Initial listing fees are based on market capitalization at the time of listing, starting at $25,000 for issuers with a capitalization less than $100 million.
The fees top out at $140,000 for issuers with a capitalization above $500 million.
Minimum listing standards for a corporate issuer include the following:
1,000,000 securities in the public float
300,000 public shareholders
$2.00 minimum price (unless listed on an acceptable foreign exchange)
2 year operating history
$50,000,000 capitalization
NEO has a unique market making program designed to ensure regular and reliable liquidity in listed securities and investment products.
For more information, please visit www.aequitasNEO.com, call 416-933-5900 or email info@aequin.com.
I’m Samantha Deutscher for Investmentpitch Media
