New business to provide private companies with efficient access to investors
March 25, 2014 (TORONTO) - TMX Group today announced plans to launch a business to facilitate capital raising and the trading of securities in the exempt market. The new business, which is called TSX Private Markets, enables TMX Group to serve companies throughout their evolution from start-up, to private issuer, to public issuer.
"TMX Group has long demonstrated a commitment to innovation across our markets in terms of the products, services and technology offerings we provide to customers," said Tom Kloet, CEO, TMX Group. "Today we are proud to announce the development of an exciting new service for Canadian private companies, which is evidence both of our organization's depth of expertise and our eagerness to serve these companies."
TSX Private Markets will be operated by Shorcan Brokers Limited, a wholly-owned subsidiary of TMX Group and a registered Exempt Market Dealer. TSX Private Markets will provide a voice-brokered service, offering capital formation and secondary trading of both private and public companies in the exempt market. Customers, who will include registered dealers, accredited investors and other exempt investors, will benefit from access to unique investing opportunities.
"Working with registered dealers, the launch of TSX Private Markets will assist private companies in accessing capital in the key early stages of their development," said Kevan Cowan, President, TSX Markets and Group Head of Equities, TMX Group. "On the execution side, we believe that private markets in Canada stand to benefit from and complement the proven success of our premier public markets."
TSX Private Markets is expected to launch in the third quarter of 2014, subject to final regulatory approval. For more information, please visit www.tsxprivatemarkets.com.
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, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom 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 (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing 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.