New initiative designed to accelerate technological and organizational innovation
June 11, 2015 (TORONTO, ON) – TMX Group today announced the launch of eXplore TMX Innovation Lab, a new initiative that will leverage both emerging and in-house technology and intellectual capital to create products and services that will provide competitive advantages to clients in Canada, across North America and around the world.
eXplore is a design and development space, operating as part of TMX Group's newly-created Global Enterprise Services, where a selection of TMX Group employees will focus on market solutions in both technology and big data analytics. Team members will be encouraged and challenged to reimagine existing capabilities and portfolio assets to innovate new client solutions.
"With this new initiative, TMX Group will be better positioned to leverage our existing technology and human capital to incubate and develop new solutions for our clients," said Lou Eccleston, TMX Group CEO. "Our company is fully committed to continually evolving our services and products that offer value to our clients, and eXplore will be an important piece of our approach to client-first innovation."
eXplore will also connect with external innovation networks to learn from and build on new knowledge domains in financial services research. TMX Group has recently formalized a collaboration framework with the Fields Institute for Research in the Mathematical Sciences. Based at the University of Toronto, the Institute brings together mathematicians from Canada and abroad, from business, industry and financial institutions, to conduct research in pure and applied mathematics, statistics and computer science, as well as formulate problems of mutual interest. This new framework will enable rapid and effective mobilization of the Institute's resources to focus within the areas of quantitative finance and big data.
In addition, TMX Group recently signed a Lead Sponsor agreement with the Capital Markets Institute (CMI) at the University of Toronto's Rotman School of Management. The investment will support the CMI's research and programming aimed at fostering a clear understanding of the challenges facing the Canadian capital markets, and the institutional tools that Canada could develop in order to convert those challenges into opportunities to be a leader among the world's small, open capital markets.
TMX Group has also contributed educational funding to the Data Science Lab in the Faculty of Engineering and Architectural Science at Ryerson University. The support will contribute to the development of big data and advanced analytics expertise in Canada. TMX Group's commitment helps the Department of Mechanical and Industrial Engineering develop a tailored data science and analytics research program focused on building novel algorithms, predictive models and techniques using big data to enhance decision making.
For more information, please visit www.tmxexplore.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, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, 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.
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