Just five weeks after its official launch, the Canadian Cyber Threat Exchange (CCTX) has already taken significant strides toward its goal of creating a system for streamlined cyberthreat intelligence sharing among businesses and government agencies across Canada and beyond, according to a panel session at SC Congress Toronto on Wednesday.

Robert Gordon, executive director of CCTX and one of the panelists, said he expects that by the end of June, the exchange's leaders will have a selected a Managed Service Provider as the primary supplier of the group's cyber sharing forum and online communication mechanisms.

“We've got a very aggressive timeline, said Gordon. “We told the service provider that they've got to have the basic operational capability up and running by the end of December.”

CCTX expects to open up its membership to small and medium-sized companies later in 2016, while also bringing on board another 20 large businesses by the end of the year. The exchange's nine founding companies include TD Bank Group and Hydro One Networks, which were also represented on the panel.