Cohere Communications’ sponsored panel discussion “Canadian Financial Markets: Your Next Growth Opportunity?” hosted in Toronto on November 10th, 2016, generated a substantial turnout by Canada’s Financial community.
Panelists included:
- Moderated by Brendan Caldwell, CEO and President Caldwell Investment Management LTD,
- Dan Kessous, CEO of Nasdaq CXC Limited,
- Richard Carleton, CEO Canadian Securities Exchange,
- Jos Schmitt, CEO Aequitas NEO Exchange, and
- Brenda Smith CEO and President, CV Brokerage Inc (US),
- Special guest Andrew Russin, President Mid-Atlantic Hedge Fund Association (US).
The sponsor of the event and Chairman and CEO of Cohere Communications, Steven Francesco, briefly spoke at the event to set the tone. It was the interactions between the US guest speakers and the panelists, which captured the attention of the audience.
In summary, some areas where the panelists agreed, include:
- Too many companies are going public
- Many of these companies are not of size, making their IPO’s premature
- For the average investor, following these companies is too complicated
- All are resulting in thinly traded stocks
Further hurting liquidity is the demise of the hedge fund – as noted by Mr. Andrew Russin, President of the Mid-Atlantic Hedge Fund Association. With more than 15,000 registered hedge funds in the US, survival in their current form is in jeopardy. Compared to about 1,000 hedge funds in Canada and contrast in the average fund size of $400 million US versus $25 million Canadian.
Other factors affecting global liquidity, as noted by Mr. Francesco, include:
- The decline in the number of broker/dealers
- Institutional trading has dried up
- Short term trading has tumbled (REPOs)
- Over-regulation
- Technology has also taken out all the inefficiencies in the markets (program and high-frequency)
Technology has reformed the markets, for the most part, not for the good of liquidity. Technology will need to be developed to segregate markets in addressing specific investment criteria – ultimately, leveling the playing field.”
Cohere is committed to being part of Canada’s growth. They are a trusted partner for Managed IT Services, Cyber Compliance, Disaster Recovery, Business Continuity, and Unified Communications.
About Cohere Communications
Cohere is an IT solutions firm dedicated to serving global trading firms, broker/dealers, correspondent clearing firms, hedge funds, and private equity groups in deploying and managing hosted solutions that ensures a competitive advantage. With critical business applications operating within Cohere’s Global Cloud, we deliver operational readiness for the most demanding of users. Our facilities comply with SSAE16, SOC 2, and PCI DSS standards, addressing specific compliance needs.
As a trusted, single-source provider of information technologies, Cohere addresses all of your firm’s operating requirements, inclusive of compliance and cyber protection services.
For additional information, visit www.coherecomm.com or call 1-212-404-6900
To be included in future events, contact events@coherecomm.com
