CDNX News Release - New software designed to track illicit trading activity

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For Immediate Release

CONTACT:		June 15, 2000
Pam Whitworth
Communications Director
Canadian Venture Exchange
Tel: (604) 488-3126

New software designed to track illicit trading activity

TORONTO – Canadian securities regulators have teamed with Canada’s stock exchanges and the RCMP to develop and launch a new computer program that will help detect securities fraud and suspect trading practices.

Known as MICA (Market Integrity Computer Analysis System), the program will recreate the purchase and sales of securities on recognized stock exchanges and dealer markets across the country. One of MICA’s key features is the ability to identify which purchaser bought shares from a particular seller. The program will greatly enhance the investigation of market manipulation cases by cutting the time to complete the analysis from months to weeks.

"The ability to match trading activity with various purchasers and sellers gives enforcement branches an investigative tool to find evidence of unscrupulous actions on Canada’s capital markets," said Douglas Hyndman, Chair of the Canadian Securities Administrators, the umbrella organization for Canada’s 13 provincial and territorial securities commissions, at the CSA Chair’s summer meeting. "To maintain the integrity and investor confidence in the Canadian securities industry, we must be able to weed out those who try to manipulate the market."

The MICA system was developed by EFA Software Services Ltd. of Calgary, Alberta, in cooperation with the RCMP, the Alberta, British Columbia, Quebec and Ontario securities commissions, Canadian Venture Exchange, Toronto Stock Exchange, Montreal Exchange, and the Investment Dealers Association.

Investigators from the RCMP, CDNX, ASC, and BCSC were trained on the use of this program in Calgary, May 29 to June 2. Investigators from the RCMP, OSC, TSE, IDA, ME and CVMQ were trained on the system in Toronto, June 5 to 9.

For further details please contact:

George Gunn	Mike Bernard
Ontario Securities Commission	B.C. Securities Commission
(416) 593-8288	(604)899-6524

Denis Dubé	Gary Cornfield
Commission des valeurs mobilières du Québec	Alberta Securities Commission
(514) 940-2163	(403)297-2091

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