MaRS and TMX Group Announce FinTech Collaboration
TORONTO, October 13, 2015 – MaRS Discovery District ("MaRS") today announced a new collaborative relationship with TMX Group ("TMX"), an integrated exchange group with key subsidiaries operating cash and derivative markets across multiple asset classes including equities, fixed income and energy. Under the agreement, TMX is joining MaRS' Financial Technology ("FinTech") cluster to connect with leading startups currently developing financial services technology with a focus on big data, crypto currencies and capital markets.
Home to Canada's first dedicated FinTech cluster, MaRS offers high-growth financial technology startups a sophisticated and comprehensive set of resources, as well as access to domestic and international venture capital, customer and partner networks. TMX's collaboration will support MaRS FinTech entrepreneurs with a range of opportunities including the chance to work with TMX's recently launched eXplore TMX Innovation Lab, a design and development space which focuses on market solutions in technology and big data.
"I am delighted to announce our strategic collaboration with TMX as we continue to grow MaRS' FinTech cluster," said Adam Nanjee, Head of MaRS FinTech. "As part of MaRS FinTech, TMX will join MaRS' growing community of financial technology companies and entrepreneurs, and, in doing so, learn from and build on new knowledge in financial services research."
"Our relationship with MaRS FinTech will connect TMX to Toronto's growing financial tech ecosystem," said Dave Orzel, Head of eXplore TMX Innovation Lab. "It is an exciting opportunity for our company to engage and participate in local innovation while developing new solutions for our clients."
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is the one of the world's largest urban innovation hubs. MaRS supports promising young ventures tackling key societal challenges in the health, cleantech and ICT sectors. In the last three years, these ventures have raised $1.3 billion in capital and earned $640 million in revenue. In addition to helping startups launch, grow and scale, the MaRS community is dedicated to cross-disciplinary collaboration, commercialization of discoveries and driving ideas to impact.
MaRS' Financial Technology (FinTech) cluster connects the financial services sector with startups developing next-generation technology in emerging payments, financial services, peer-to-peer transactions and alternative lending.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing, Singapore and Sydney. For more information about TMX Group, visit our website at http://www.tmx.com. Follow TMX Group on Twitter at https://twitter.com/tmxgroup.
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MaRS Discovery District
Manager, Corporate Communications and Public Affairs