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New Inter-Dealer Brokerage Opens in Canada

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TORONTO (–Fimat Canada Inc. said it will open a new inter-dealer brokerage business called Toronto Capital Markets Group.

The new brokerage will engage in over-the-counter derivatives and repo name give-up business, focusing on government bonds, swaps, forward rate agreements, repos and futures and options, according to a news release from Fimat Canada.

“Our inter-dealer brokerage operation will further broaden the suite of products and services that we are able to offer market participants,” said Jean-Pierre Gallardo, chief executive of Fimat Canada Inc.

The business is targeted at the Canadian dealer community. Tim Anastakis will lead the Toronto Capital Markets Group team, which also includes Jerry Summers, David Whealy, Stacy Hart and Michael Doane. Collectively, the team has more than 75 years of trading, broking and repo market experience, according to the news release from Fimat Group.