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TMX Group

#2153

Rank

$6.28B

MarketCap CA

CA Canada

Country

Summary
TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada and internationally. The company operates through four segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading and Clearing; and Equities and Fixed Income Trading & Clearing. The Global Solutions, Insights & Analytics segment delivers equities and index data, as well as integrated data sets for the proprietary and third party analytics to help clients in making trading and investment decisions; and provides solutions to European and global wholesale energy markets for price discovery, trade execution, post-trade transparency, and straight through processing. The Capital Formation segment operates Toronto Stock Exchange, a national stock exchange for the senior equities market; TSX Venture Exchange, a national stock exchange for the public venture equity market; and TSX Trust that provides corporate trust, registrar, transfer agency, and foreign exchange services. The Derivatives Trading & Clearing segment operates Montreal Exchange, a national derivatives exchange; Canadian Derivatives Clearing Corporation, a clearinghouse for options and futures contracts; and various over-the-counter products and fixed income repurchase agreements. The Equities and Fixed Income Trading & Clearing segment engages in the trading operations of Toronto Stock Exchange, TSX Venture Exchange, and TSX Alpha Exchange; and clearing and settlement of equities and fixed income transactions, and custody of securities; and provision of fixed income inter-dealer brokerage services. The company was formerly known as Maple Group Acquisition Corporation and changed its name to TMX Group Limited in August 2012. TMX Group Limited was incorporated in 2011 and is headquartered in Toronto, Canada.

History

In 2001, the Toronto Stock Exchange acquired the Canadian Venture Exchange , which was renamed the TSX Venture Exchange on July 31, 2001. The acquisition was carried out through a parent company, TSX Group Inc..

The Montreal Exchange was acquired on December 10, 2007 for C$1.31 Billion The acquisition was completed on May 1, 2008 and the corporation subsequently renamed to TMX Group Inc.

On June 11, 2008 at a meeting of shareholders of TSX Group Inc a resolution to change the name of the corporation to TMX Group Inc. was put forward. The formal vote for the deal took place in September.On February 9, 2011, the London Stock Exchange Group announced that they had agreed to merge with the TMX, creating a combined entity with a market capitalization of $5.9 billion . Xavier Rolet, CEO of the LSE Group, will head the company, while TMX Chief Executive Thomas Kloet will become president. Based on data from November 30, 2010 the new stock exchange would be the second largest in the world with a market cap 47% greater than the Nasdaq. Announced on June 1, 2011, the provisional name for the combined group would be LTMX Group plc.On June 13, 2011, a rival bid from the Maple Group of Canadian interests, was unveiled: a cash and stock bid of $3.7 billion CAD, in hopes of blocking the LSE Group's takeover of TMX. The group is composed of the leading banks and financial institutions of Canada. Luc Bertrand, spokesman for Maple Group and one of the drivers of the bid is vice chairman of the National Bank of Canada and also TMX Group's largest individual shareholder.On June 22, 2011, the LSE Group and TMX agreed to pay a special dividend to shareholders. The special dividend is meant to sway voters away from Maple Groups rival bid. The dividend was valued at $678 million with TMX shareholders receiving $4 per share and LSE shareholders receiving $1.36 per share. Including the special dividend, the LSE agreement would be valued at $48.90 per share versus the $48 per share of Maple. The exchanges also pledged to maintain the dividend at least as high as the current TMX annual payout, which is C$1.60 a share.On June 29, LSEG and TMX terminated the merger plans after it appeared that the merger would not be approved by the needed two-thirds majority of TMX shareholders.On July 11, 2012, Maple Group's deal was approved by all federal and provincial regulatory authorities, including the Ontario Securities Commission and the Autorité des marchés financiers.On July 31, 2012 Maple Group announced that it won control of the TMX Group, as 91% of shares were tendered for its takeover offer. The formal vote for the deal will take place in September.On January 21, 2013 TMX Group announced that combined, Toronto Stock Exchange and TSX Venture Exchange were first in the world among global exchanges by number of new listings for the fourth consecutive year, according to data from the World Federation of Exchanges as of December 31, 2012.On February 13, 2013 TMX Group announced it had entered into an agreement with Equity Financial Holdings Inc. to acquire its transfer agent and corporate trust services business.On July 25, 2013 the S&P Dow Jones Indices and TMX Group announced the launch of the S&P/TSX High Income Energy Index. The new index was licensed by S&P Dow Jones Indices to Guggenheim Investments for an Exchange Traded Fund listed on the New York Stock Exchange.On February 12, 2014 TSX Venture Exchange announced the 2014 TSX Venture 50, an annual ranking of strong performing companies from five sectors: Clean Technology, Diversified Industries, Mining, Oil & Gas, and Technology & Life Sciences.On March 25, 2014 TMX Group announced plans to launch a business to facilitate capital raising and the trading of securities in the exempt market. TSX Private Markets enables TMX Group to serve companies throughout their evolution from start-up, to private issuer, to public issuer.On June 2, 2015 TMX Group announced a realignment of the organization. The changes follow the completion of an in-depth strategic review of the organization, which began in January 2015.On June 16, 2015, TMX Group announced a new initiative. AgriClear, an online platform designed to provide U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective transaction and payment service.On November 12, 2018, TMX Group launched TMX Matrix, a platform designed to showcase regulated growth companies listed on TSX Venture Exchange.On June 30, 2020, TMX Group integrated TMX Matrix with TMX Money, its flagship site that provides free real-time stock quotes for retail investors.

In November 2022, it was announced TMX Group had acquired the Boston-based provider of global market-moving action and corporate event data, Wall Street Horizon.


Mission
To foster global markets that are reliable, efficient and accessible through thoughtful service, innovation and strong collaboration.

Vision
TMX Group’s vision is to be the global leader in innovative financial markets infrastructure.

Key Team

Ms. Cheryl Graden (Chief Legal and Enterprise Corp. Affairs Officer & Corp. Sec.)

Shane Quinn (Head of Communications & Public Affairs)

Sanjay Kulkarni (Chief Marketing Officer & Head of Digital Solutions)

Mr. Luc Fortin (Pres, CEO of the Montréal Exchange (MX) & Global Head of Trading)

Mr. Paul Malcolmson (VP of Enterprise Sustainability & Investor Relations)

Ms. Cindy Bush (Chief HR Officer)

Mr. Loui Anastasopoulos (CEO of Toronto Stock Exchange & Global Head of Capital Formation)


Recognition and Awards
TMX Group has been recognized as one of Canada's Top 100 Employers, one of Canada’s Top Employers for Young People, a National Capital Region Employer of Choice and one of Canada’s Top Employers for Women.

References
TMX Group
Leadership team

Mr. John D. McKenzie B.B.A., C.M.A., CPA, M.B.A. (CEO & Director)

Mr. David Arnold (Chief Financial Officer)

Mr. Jayakumar Rajarathinam (Chief Operating Officer)

Products/ Services
Consulting, Financial Exchanges, Financial Services, Insurance, Market Research, Stock Exchanges
Number of Employees
1,000 - 20,000
Headquarters
Toronto, Ontario, Canada
Established
2008
Net Income
500M - 1B
Revenue
500M - 1B
Traded as
X.TO
Social Media
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