Capital Markets Academics Discuss: Canadian Securities Administrators Trading Fee Rebate Pilot Study
September 12, 2018
Three academic researchers, with expertise in Canadian equity market structure, engaged by the CSA to design and conduct the pilot study presented their proposal and sought industry input on the structure of the study.
The CSA appointed 3 researchers, with expertise in Canadian equity market structure, to design and conduct the pilot study:
- Katya Malinova, Associate Professor, Mackenzie Investments Chair in Evidence-Based Investment Management, DeGroote School of Business, McMaster University.
- Andreas Park, Associate Professor of Finance at the University of Toronto Mississauga and the Rotman School of Management, and Research Director, Rotman FinHub.
- Andriy Shkilko, Associate Professor of Finance and Canada Research Chair in Financial Markets, Laurier’s Lazaridis School of Business and Economics.
The research team provided a presentation of their preliminary thoughts on the structure of the study. View presentation here. This was followed by a panel discussion moderated by Anita Anand, Head of Research & Policy, Capital Markets Institute and Professor & J.R. Kimber Chair in Investor Protection & Corporate Governance, Faculty of Law, UofT with the following subject matter experts.
- Peter Haynes, Managing Director, Index Products,TD Securities Inc.
- Dan Kessous, Chief Executive Officer, Nasdaq Canada Inc
- Heather Killian, Executive Director, Prime Services Group, CIBC Capital Markets
- Kelly Reynolds, SVP Trading and Operations, Hillsdale Investment Management
- Jonathan Sylvestre, Head, Business Strategy, Equities Trading, Equity Capital Markets, TMX
View the event here.
The research team is now finalizing the structure of the study. The CSA plans publish a notice and request for comment on the proposed pilot study in fall 2018.
Additional Background: