standards i business worid s most modern TORONTO (UPC) - Canada’s largest stock market enters a new era of futuristic technology next May when the century-old Toronto Stock Exchange moves to an ultramodern $25 million facility. “It will be the most technologically innovative in the world,” TSE president Pearce Bunting said on a recent tour of the new 36- story Exchange Tower. “The exchange’s principle i re-the highest of trading and industry regulation and to best technology products available.” The TSE is the largest of Canada's five stock ex- changes, accounting for about 80 per cent of the dollar value of all shares traded in the country. Last year, the TSE handled 1.5 billion shares worth $25.1 billion. Located in the heart of Toronto's financial district the new complex will feature 30,000 square feet of floor space that can accommodate up to 1,700 people — almost four times the size of the old exchange on Bay Street. and ___After its third move since _ the TSE was first in- corporated in 1878. the 350 TSE employees now scat- tered at three different locations will be housed in five floors of the new tower. On the ultramodern floor, traders will have access to five equity trading posts, three options trading posts and the futures pits. Each of the 30-foot posts will feature a bank of 12 television screens, each capable of displaying 20 listings. Traders booths will be on a television screen on the trading floor. Under the old system, two traders had to make personal contact on the frantic, paper-strewn floor to buy or sell shares. For those interested in wheeljng and dealing the equipped with an advanced new complex features a telephone system providing speed dialing. A trader can dial a much-used number with the push of a single button. Traders can be linked to the booth by ‘Visitors’ centre and a 140- seat auditorium. The 100- foot visitors’ gallery will be equipped with headphones to explain the action on the floor below. a Bh fate of the 45-year-old - About 2,000 telephone lines will be installed initially 4,000 more in the future. The new exchange facilities will allow brokers to conduct transactions in their office and post the deal Bay Street exchange location is not known. TSE said. Ownership of the building was given to Olympia & York through a property swap with the TSE for the new site. Refineries closing MONTREAL (UPC) - Oil companies will soon be an- nouncing more refinery closings in Eastern Canada on top of the three an- nounced earlier this year, the president of Imperial Oil Ltd. says. “With petroleum products, there’s no way you can say it except that the market in Canada, like most parts of the world, is shrinking.” Donald Mclvor said Wednesday in an ad- dress to the Montreal Society of Financial Analysts. When asked if that meant there could be more refinery closings, MclIvor replied “there will be that pressure”. “Yes, certainly. Even with the closings that have been announced, there - stitt remains significant over- capacity, Earlier this year, Texaco and BP announced they were closing refineries in east-end Montreal while Shell shut a facility at Oak ville, Ontario. Willson super values help you get the new school term off to a great start! 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