Cannacord Repurchase May Aid Overhaul Plan.

The article reports that the decision of Canaccord Capital Inc. to repurchase the nonbank, asset-backed commercial-paper (ABCP) holdings of most of its retail clients may aid the planned overall structuring of the frozen 33 billion Canadian dollars nonbank ABCP market. It states that the offer of Canaccord to buy out more than 1,400 investors at par means that the restructuring, which was advanced by the Pan-Canadian Investors Committee, of short-term ABCP notes into longer-dated floating-rate notes will likely to proceed.