The Newsletter: Mr. Sabourin, thank you for meeting with us. Tell us who Jitneytrade is.
J.-F. Sabourin : Jitneytrade was founded in 2001 in Montreal and has remained here ever since. We have grown over time and now have an original and even unique business model.
In a nutshell, we are the next-generation broker. What does this mean? First, our main role is to be an execution broker, which means we give no advice on security selection, portfolio matters, asset allocation, and the like. However, we are specialists in execution across exchanges, whether for our own accounts or by giving others the electronic access to all relevant securities exchanges.
We specialize essentially in two asset classes: Canadian equities and listed derivatives (futures, options).
Also, we basically have three diferent types of clientele: first, individual (‘retail’) investors that are very active on the markets (e.g., day traders, among others); second, institutional investors, with high sophistication and important analytical and research capabilities, requiring the most efficient market access to implement their trades and ideas; third, highly independent private capital firms aiming to trade their own assets with their own employees and apply their models and techniques to the markets (e.g., prop shops).
Our client list breaks down between about 3/4 of retail clients and highly active private capital firms, and 1/4 of institutionals. We are deployed across Canada and also serve U.S. brokers looking for Canadian execution. That said, the origination of the trades we complete is truly international.
The Newsletter: What makes Jitneytrade different?