Letter From The President

Fall Bash

IETA Christmas Party

11th Annual Canadian Security Traders Convention - Kananaskis, Alberta - July 7-10, 2004

Homeless Breakfast - December 18, 2003

Educational Session - February 26th

Third Annual Winter Vendor Fair - March 31, 2004

Bay Street Childrens Foundation Charity Hockey Tournament - April 23, 24, 25, 2004

IETA First Annual Spring Fling - April 22, 2004

Canadian Society Of Technical Analysts - Meeting - June 21, 2004

8th Annual Bay Street Pro-Celebrity Softball Tournament - July 16 and 17, 2004

MIETA Boat Cruise - Wednesday, June 16, 2004

Dates To Remember

Who's Where? This 'N That

A Warm Welcome to our New Members

Could the winter finally be over .... ? I gather that would be the case given our June 3 AGM is fast approaching. This year's soiree will be at the Park Hyatt, the same venue where we congregated in December for the holidays. The golf tournament will once again be hosted at Angus Glen the following morning. Should be a great end to the week.

After months of planning, meetings, debate, etc ... on Monday, March 29th, the TSX launched its much anticipated market-on close facility. While there has been some confusion on a few of its finer points, the mechanism seems to be gaining greater acceptance with a rapid increase in volumes and participation.

The Board has been actively organizing an educational seminar relating to the newly christened market-on-close facility, scheduled for May 26th at the National Club. (This should be a very informative affair featuring speakers from the TSX (Albert Kovacs), TD Asset Management (Terry Horaski) and Scotia (Pruyn Haskins). We look forward to an engaging discussion.

As always, we are anxious and appreciative of our members feedback on any and all issues. Please feel free to forward your opinion (good or bad), to myself or any other board member.

We look forward to an exciting few weeks and a phenomenal summer. Thanks and have a great day.

Best regards,

Nicholas Thadaney, President, IETA (of Toronto)
416-874-0737
nthadane@itgcan.com

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The 2003 IETA Fall Bash was a rip roaring success. It was held at the Habitat Lounge in the trendy Queen Street West neighborhood on Thursday October 23, 2003.

With approximately 200 people in attendance, funky tunes, unique d’oeuvres, and in the end the sauce being boss…how could you not have a fun night!!

A special thanks to the Habitat Lounge for putting together a great evening!

Chris Rigby
Director
416-869-3326
chris_rigby@canaccord.com

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On December 11th, we all got together and celebrated the 2003 IETA Christmas Party! It was a great turnout with over 150 members raising a cheer for the holiday season. This year's party was once again at the Hyatt, which generously gave everyone an early Christmas present - a gift certificate at The Stillwater Spa. A common response to the gift ………….. “cool, half my Christmas shopping done!”.

Thank you all for coming out and in particular thanks to the Hyatt for co-ordinating a enjoyable and festive party.

Carrie Gratias
Vice President
416-3509-2291
carrie.gratias@ubs.com

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PLEASE REGISTER FOR THE CONFERENCE, AND BOOK YOUR HOTEL ACCOMMODATION ASAP, AS ROOMS WILL BE RELEASED ON MAY 23, DUE TO HOTEL POLICY.

Register online, if you have not done so already. https://www.beanstream.com/secure/CSTA0/fullregistration.asp

View Agenda http://www.canadiansta.org/Agenda4.pdf

View CSTA Conference brochure. http://www.canadiansta.org/CSTA_prelimbrochure.doc

PLEASE NOTE THAT ROOM CANCELLATIONS CANNOT BE ACCEPTED AFTER MAY 23, 2004.

Please telephone:

Delta Lodge at Kananaskis (Wednesday-Saturday nights):
- Room rates starting at $265.00 per night
- MUST reference "Canadian Securities Traders Association, GD821"
- call 1-866-432-4322 or locally 403-591-7711

Delta Bow Valley (in Calgary Saturday night only):
- Room rates starting at $199 per night (limited availability)
- MUST reference "Canadian Securities Traders Association, GFCSTA"
- call 1-800-665-8571, 1-800-268-1133 or locally 403-266-1980

For family members not attending the conference, there is much to keep you busy! Check out Kids Club at the Kananaskis Delta Lodge http://www.deltahotels.com/hotels/hotelinfo.do?categoryId=13&hotelId=30 , Banff Hot Springs, and nearby Horseback Riding. Further information is available through Kananaskis Delta Lodge http://www.deltahotels.com/hotels/hotels.do?hotelId=30

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On Thursday December 18th 2003, Nick, Chris, and I, along with a few members of the I.E.T.A. served a breakfast to some of Toronto’s homeless. It took place in the Osgoode Hall cafeteria between 6:00 am - 8:00 am. We began the day by making bag lunches for the group, followed by serving a large healthy breakfast to about 200 people! The response from our group was overwhelming and most found it a truly enriching experience!

This is a program that currently offers three meals a week to many of Toronto’s less fortunate and is operated by a group of lawyers. We have expressed an interest in supporting the breakfast and would like to be involved on a more regular basis. Any member interested in lending a helping hand can contact Nick, myself, or any other board member.

Dan Dowling
416-863-7511
dan_dowling@scotiacapital.com

Nicholas Thadaney
416-874-0737
nthadane@itgcan.com

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Exchange Initiatives: Emerging Trends & Market Structure in North American Markets

Rik Parkhill (Senior Vice President, Trading, TSX Markets), Adam Nunes (Director, Corporate Strategy, NASDAQ Transaction Services) and Tom Richardson (Managing Director, US Equities, Head of Internalization and Strategic Initiatives, Citigroup) highlighted many new market initiatives and some of the proposed market structure modifications. The TSX generously sponsored the event, which was attended by more than 50 members.

There was some discussion relating to impending launch of both the Nasdaq & TSX market-on-close systems as well as the re-launch of Posit. Some of the new products covered included $US book, FOX, etc. Mr. Nunes explained Nasdaq's position relating to the dual-listing initiative, he also discussed execution speeds and lowering trading costs.

Tom Richardson of Citigroup spent most of his time charting the details relating to some of the proposed Market structure changes, including trade through rules, short sale issues, regulatory structure and soft dollars.

Most had a careful stance as to what the fate of NYSE would be, but the unanimous view was that change in the marketplace will come and it will happen quickly.

Gary Knight
416-369-2672
gknight@omers.com

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The IETA and CSTA once again collaborated on the Annual Vendor Fair, this past March at the Sheraton Centre Hotel. Being bumped from our regular venue at the Design Exchange was a little traumatic, especially when we were so accustomed to their workings. While the event was not quite as well attended as in past years (probably due to the shift in venue), the number of quality vendors was extremely impressive.

The event began at noon and went on until 8:00pm. The attendees included many members, their IT professionals, PM's, etc. The list of vendors is as follows:

Archipelago (Wave Securities)
Belzberg Financial Markets
Charles River
ETrade
GL Trade
ITG Canada
KTG Technologies
Latent Zero
Line Data
Macgregor
Orc Software
Reuters
TSX Markets

The draw prize winner for a Canon digital camera was won by Hossein Astaraki of Research Capital.

We'd like to give special thanks to our vendors who supported this wonderful event and special thanks to Sue Howard of ITG, for her tireless effort and organizational skills.

The Board is looking to make a few changes to the event for next year, so any suggestions would be welcomed and appreciated. We are also very happy to announce that next year's Vendor Fair will return to the Design Exchange in February 2005.

Thanks
Nicholas Thadaney, President, IETA
nthadane@itgcan.com
(416) 874-0737

Michelle Dacosta
Past President, IETA

Nick Savona
nick.savona@tdsecurities.com
(416) 944-5142

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Many thanks to all the supporters of this annual Charity event which was held in support of Mount Sinai and Sick Children's Hospital Foundation

Semi-finals
McFarlane 4-3 over TD
Salida 5-4 over RBC in overtime

Finals
McFarlane 5-3 over Salida

Congratulations to all the players involved !!!

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On April 22nd, the IETA held the First Annual Spring Fling at The Ultra Supper Club on Queen Street. Even though it was the first game of the second round for the Leafs, many came out to enjoy this new event. Unfortunately, the weather was unco-operative and we did not get a chance to enjoy the new patio but nonetheless, a good time was had by all.

Looking forward to seeing everyone at the Annual Meeting at the Hyatt on Thursday, June 3rd.

Carrie Gratias
Vice President
416-3509-2291
carrie.gratias@ubs.com

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The Canadian Society of Technical Analysts has extended to all IETA members the ability to attend a one-day course they are hosting held on June 21. This course has been offered throughout the world to professional traders (of any asset class) and is designed to provide information and tools necessary to be a better trader.

The feature speaker is Daniel Gramza. Mr. Gramza is President of Gramza Capital Management, Inc. and DMG Advisors, LLC. He is published internationally and is completing two books "Trading in the Eye of the Storm" and " The Handbook of Japanese Candle Trading Strategies". Dan has appeared on CNN's "Moneyline" program, Bloomberg TV, REUTERS TV and appears regularly as a market analyst for WCIU-TV in Chicago. Dan presents private and public courses worldwide in Japanese Candle Analysis, Market Profile©, technical analysis, options and option trading strategies, and the structure and operation of stocks and futures markets. He has presented courses to traders from over 20 exchanges, 400 institutions, and 30 countries. He is a former member of the Chicago Rice and Cotton Exchange and an instructor for the Chicago Mercantile Exchange, The Chicago Board of Trade and The Chicago Stock Exchange. He holds a BS in Engineering from Illinois Institute of Technology and a MBA in International Finance from DePaul University.

Please see enclosed for more details. If you have any more questions please contact Jeff Parent @ jparent@nobid.com or 416-574-1382.

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The teams are going fast and the sponsorship spots are going even faster! If you would like your firm to get involved in the 8th Annual Bay Street Pro-Celebrity Softball Tournament please send your registration form (www.baystreetcf.com/forms.html) along with a cheque made payable to The Bay Street Children's Foundation soon! There is only one diamond left and limited team and party sponsorship spots. We want to make sure that no one is left out, so please hurry.

As well, for those coming from out of town, please make sure you book your hotel rooms at The Sutton Place as soon as possible. We only have a limited number of rooms set aside. You can reserve your room by calling: 1-800-268-3790 or emailing res_toronto@suttonplace.com. Ask for the Bay Street Softball Group Rate of CDN$189.00 per night.

The Bay Street Softball challenge is two days filled with softball, kids, celebrities, food and fun. "Bay Street" and "Wall Street" have come together for the last seven years to raise over $820,000 in support of the Bloorview MacMillan Children's Foundation. A total of $190,000 was raised at last year's tournament, $100,000 of that donated to the Bloorview MacMillan Children's Centre, the remainder to various qualified children's charities.

Last year, over 500 participants from both Bay Street and Wall Street joined in on the fun. The event proved to be an excellent opportunity to meet and mingle with fellow industry participants. Our goal this year is to raise over $150,000 for The Bay Street Children's Foundation. The Bay Street Children's Foundation is a non-profit foundation dedicated to improving the quality of life for children in need. Through donations, sponsorships and fundraising events The Bay Street Children's Foundation will distribute funds to qualified children's charities and non-profit organizations. For more information about the Foundation, please visit: www.baystreetcf.com

The tournament this year will be held on July 16th and 17th in Toronto, Canada at Riverdale Flats. To register your own firm's team to participate in the baseball tournament, the fee is CDN$7500 or US$6000. Registration includes a minimum of three games on Friday and Saturday, a "kick-off" party on Friday night and an awards banquet on Saturday night.

Other participation options are available:
1. Sponsoring an event for CDN$4000/US$3000 which entitles your firm to signage at the particular event
2. Sponsoring a diamond at the tournament for CDN$1500/US$1250 which entitles your firm to a company banner on one of the six baseball diamonds at the park.

For more information on the tournament please visit our web site at:
www.baystreetcf.com and click on the Bay Street Pro-Celebrity Softball Tournament Icon. To register your team or become a sponsor please visit the registration area on the web site or (www.baystreetcf.com/forms.html)

We look forward to your participation this year.

Yours Truly,

James Duncan
President, The Bay Street Children's Foundation
1-800-563-8343

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Boat: The "Bateau-Mouche du Vieux Port de Montréal" http://www.bateau-mouche.com
Boarding: 18h30 at Jacques Cartier Pier (Old-Montréal)

We should be back at the pier around 10h30 and the boat is open until midnight
Cost per person: 125$ CAN or 100$ USD
Includes cruise, fine local cuisine of the queen Élizabeth Hotel, open bar, DJ and dance floor!!!!

Please RSVP to Geneviève L'Abbé, Dlouhy Merchant: 514-845 9620

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IETA Educational Session - Wednesday, May 26, 2004
IETA Annual and General Meeting - Thursday, June 3, 2004
IETA Annual Golf Tournament - Friday, June 4, 2004
MIETA Boat Cruise 2004 - Wednesday, June 16, 2004
Canadian Society Of Technical Analysts - Meeting - June 21, 2004
11th Annual Canadian Security Traders Conference in Kananaskis, Alberta - July 7 - 10, 2004
8th Annual Bay Street Pro-Celebrity Softball Tournament - July 16 and 17, 2004
MIETA Golf - Monday, August 2, 2004
MIETA Oyster Party - October 2004
MIETA Christmas Party 2004 - Thursday, December 9, 2004
** For MIETA Events, please access http://www.mieta.com/en/events.html for further details!

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Congratulations and best wishes to the following individuals who have recently made moves:

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For further information regarding all current industry news, issues, and upcoming events, please log on to www.ietatoronto.org