INDUSTRY PROFILE: DEALERS
(All statistics are as at March 31, 2018)
Investment dealers regulated by the Investment Industry Regulatory Organization of Canada vary in size, ranging from the largest financial institutions in the country to small businesses with 10 or fewer staff registered with IIROC. They represent a variety of business models, including a focus on retail or institutional clients, and an integrated approach with both retail clients and investment banking operations.
CATEGORIES OF INVESTMENT DEALERS
As of March 31, 2018, there were 176 dealers, of which 168 were in good standing, 2 were in the resignation process and 6 were suspended.
INDIVIDUALS AND FIRMS REGULATED BY IIROC
(by location)
| Province | Approved Persons | Branch Offices | Head Offices |
| AB | 3,051 | 954 | 16 |
| BC | 4,556 | 1,249 | 11 |
| MB | 598 | 165 | 2 |
| NB | 305 | 85 | 1 |
| NF | 116 | 36 | 0 |
| NS | 526 | 146 | 0 |
| NT | 0 | 2 | 0 |
| NU | 0 | 0 | 0 |
| ON | 14,218 | 3,188 | 110 |
| PE | 67 | 24 | 0 |
| QC | 4,862 | 726 | 30 |
| SK | 591 | 215 | 0 |
| YT | 5 | 5 | 0 |
| U.S. | 342 | N/A | 6 |
| Other* | 47 | N/A | 0 |
| Total: | 29,284 | 6,795 | 176 |
MEMBER FIRMS
(by revenue)
| Revenue | % of Firms |
| Greater than $1 billion | 4% |
| Greater than $100 million | 12% |
| Greater than $10 million | 40% |
| Greater than $5 million | 13% |
| Less than $5 million | 31% |
MEMBER FIRMS
(by number of approved persons)
| Number of Approved Persons | # of Firms | % of Firms |
| Over 1,000 | 8 | 5% |
| 501 to 1,000 | 6 | 4% |
| 101 to 500 | 18 | 11% |
| 11 to 100 | 78 | 46% |
| 10 or fewer | 58 | 34% |
INDUSTRY PROFILE: MARKETS
IIROC REGULATES TRADING ACTIVITY ON
| 6 | Stock Exchanges | |
| TORONTO STOCK EXCHANGE (TSX) | ||
| TSX VENTURE EXCHANGE (TSXV) | ||
| ALPHA EXCHANGE (ALPHA) | ||
| CANADIAN SECURITIES EXCHANGE (CSE) | ||
| AEQUITAS NEO EXCHANGE INC. (AQN)* | ||
| NASDAQ (CXC) LIMITED (NASDAQ CANADA)** | ||
| * | Aequitas Neo Exchange operates 2 distinct books – Aequitas Neo Book (NEO-N) and Aequitas Lit Book (NEO-L) |
|
| ** | Nasdaq (CXC) Limited operates 3 distinct books – Nasdaq CXC (CXC), Nasdaq CX2 (CX2) and Nasdaq CXD (CXD) |
|
| 5 | Equity Alternative Trading Systems | |
| OMEGA ATS (OMEGA) | ||
| LYNX ATS (LYNX) | ||
| TRIACT CANADA MARKETPLACE (MATCH NOW) | ||
| LIQUIDNET CANADA INC (LIQUIDNET) | ||
| INSTINET CANADA CROSS LIMITED (ICX) | ||
Canada’s Multiple Equity Marketplaces
(Where trading took place in 2017-2018 by share volume)*
TSX-LISTED PERCENTAGE
*For the year ended March 31, 2018
TSXV-LISTED PERCENTAGE
Aequitas Neo Exchange (AQN): 99.50% of AQN-listed securities traded on an Aequitas NEO marketplace. The remaining 0.50% of trading took place on MATCH Now.
Canadian Securities Exchange (CSE): 93.54% of CSE-listed securities traded on the CSE. The remaining 6.46% of trading took place on Omega, MATCH Now, Lynx, ICX, NEO-N and NEO-L.
Activity on the equity marketplaces whose trading activity is regulated by IIROC
TRADES
Number of Transactions (Millions)
VOLUME
Total Shares Traded (Billions)
VALUE
of Shares Traded ($ Billions)
