The fiscal year ended March 31 was the best ever for the Vancouver Stock Exchange. Describing the $6.7-million “excess of revenue over expense” as an all- time high, Chairman G. Fabbro attributed the results to higher listing and trading activity and sound expense management which generated sharply increased revenues. After extraordinary items, the final figure was $5.5 million.
The 3.8-billion share volume for the period was ahead 25% and the value of trading, at $5 billion, represented a 48% increase. Total financings amounted to $808.6 million, almost double the previous year’s. Trading activity on Vancouver accounted for 34.6% of Canadian share volume and 5% of the value.
A number of initiatives were undertaken during the year to improve the level of service to users. Approval was given for a computerized trading system which should be operational next February and also for the expansion of vse quotation services to 20,000 terminals in the United States, Europe and parts of Asia. The vse Service Corp. was reorganized into two entities: the West Canada Clearing Corp. and the Canada Depository Trust Co., both of which should be operating by fall.
A record number of non- resource firms were listed over the year, many of them U.S.-based. All told, 217 new listings were added and 1,973 companies were listed at the end of the fiscal year.
At the exchange’s annual meeting, John Mathers, vice-president of Brink Hudson & Lefever was elected chairman for the 1987-88 fiscal year. In assuming his new role he said: “The record-breaking activity of our market in 1986/87 will doubtless serve as a powerful impetus for new initiatives, as will our sound financial position at year-end.”
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