CanDeal, an electronic marketplace for Canadian dollar fixed income securities and derivatives, has inked an agreement with Morgan Stanley to join its marketplace as a liquidity provider for Canadian government bonds.
Currently, over 250 global institutions are using CanDeal to gain insight and direct access to Canadian dollar product and addition of the US bank will further boost its electronic liquidity pool in Canada to 14 providers.
Morgan Stanley global interest rate products head and managing director Glenn Hadden said that the participation with CanDeal as a provider of liquidity in Canadian government bonds will strengthen its offering to clients in major government bond markets globally.
CanDeal co-founder, president and CEO Jayson Horner commented, "The success of our marketplace is contingent upon providing solutions to market participants that delivers optimal transparency, efficient trade execution and unique business intelligence data, while reducing operational risk."
The marketplace also provides Canadian institutional investors and investment dealer’s electronic access to liquidity in additional debt and derivative marketplaces operated by Tradeweb Markets in the US and Europe.
Morgan Stanley manages more than 1,200 offices in 43 nations, and offers various investment banking, securities, investment management and wealth management services.