TMX Group Inc, owner and operator of the Toronto Stock Exchange and TSX Venture Exchange, plans to form a new business to facilitate capital raising and the trading of securities in the exempt market. The new business, called TSX Private Markets, will focus on servicing companies throughout their evolution from start-up to private issuer to public issuer, TMX Group said. Expected to launch in the third quarter of 2014, the business will be managed by Shorcan Brokers Ltd.
TMX Group to Expand Into Private Markets
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.
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