Centenario Gold Hires ICP for $7,500-a-Month Market Making Deal
Updated
Updated · TheNewswire · Jun 8
Centenario Gold Hires ICP for $7,500-a-Month Market Making Deal
2 articles · Updated · TheNewswire · Jun 8
Summary
Centenario Gold signed ICP Securities on June 8 to provide automated market making services under an initial four-month agreement that renews monthly unless either side gives 30 days' notice.
The company said ICP will use its ICP Premium algorithm to correct temporary imbalances in supply and demand for Centenario shares and improve liquidity and quote health under TSXV rules.
ICP will receive $7,500 a month plus taxes, with no performance-based terms, stock options or other compensation tied to the mandate.
Toronto-based ICP, a CIRO dealer member, will fund its own trading activity; Centenario said no third party will supply cash or securities, though ICP and its clients may later hold the company's shares.
The move adds trading-support infrastructure for the TSXV-listed explorer as it pursues gold, copper and silver opportunities in Mexico and Canada.