Stock exchange trading platform gets $2M grant from government
With a little help from the Federal Government, one company is going to have to move forward with the plan to put a roof over its head.
The Canadian Stock Exchange announced Tuesday it has received $2 million in federal funding for its Stock Trading Platform (STP), a platform that will allow stock brokers to create and sell stocks without trading fees.
The STP will allow traders to access stock data from both public and private market data to sell and trade stocks, including stock options.
The project will be funded by a $15.8 million federal grant, which is part of the Government’s Canada Infrastructure and Communities Fund.
The Federal government also provided funding for a program that will enable stock exchanges to expand their data services and services to financial institutions.
The STPP will not have access to the data that would otherwise be available on the platform.
It was announced at a news conference in Ottawa.STP, which started in December, is being funded by the federal government and the provinces of Ontario and Alberta.