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CNQ Appoints General Counsel


July 19, 2002 (TORONTO)- The Canadian Trading and Quotation System Inc. (CNQ) today announced the appointment of Mr. Timothy Baikie to the position of General Counsel and Corporate Secretary for CNQ. Mr. Baikie has been a consultant to CNQ over the past three months and has played an instrumental role in shaping the rules and policies of CNQ as it seeks to be the first market for emerging companies to be recognized by the Ontario Securities Commission (OSC).

Mr. Baikie is a well-known lawyer with a legal and consulting practice focused on capital markets issues. His expertise in market regulation, structure and policy was developed while holding a number of positions at the Toronto Stock Exchange over a fourteen and one-half year period. Mr. Baikie has spoken extensively on market regulation and market structure issues. He received his B.A. from York University (Glendon College), an LL.B. and a B.C.L. from McGill University and an LL.M. from the University of Illinois at Urbana-Champaign. Mr. Baikie was called to the Ontario Bar in 1987.

“Tim’s legal expertise and practical insight in capital markets, market regulation and policy will be invaluable to CNQ in shaping the future of this marketplace over time,” stated Rob Cook, president and CEO.

“It is both a rare and challenging opportunity to be involved in developing such a totally new and unique market model from the ground up,” commented Tim Baikie.

CNQ has recently posted new rules and policies on its website which reflect the immense progress that has been made towards obtaining regulatory approval. It is expected that CNQ’s application for recognition by the OSC will be published this summer and that OSC approval will enable CNQ to launch its marketplace later this year.

The Canadian Trading and Quotation System Inc., a private Ontario corporation, has created a unique new marketplace designed specifically to meet the needs and characteristics of Ontario reporting, emerging companies and their investors. CNQ will provide a fully-automated, regulated and transparent auction marketplace structured to enhance liquidity through competitive market making. CNQ will ensure the highest possible levels of efficiency and integrity to facilitate the trading of non-exchange listed equity securities by approved Investment Dealers Association of Canada members. In addition, CNQ’s enhanced disclosure model will facilitate increased visibility for emerging companies, provide access to new investors and increased liquidity.


For Further Information Please Contact:

Robert G. Cook, President & C.E.O. 416-572-2470

Canadian Trading and Quotation System Inc. [email protected]