TSX Group
From Wikipedia, the free encyclopedia
| TSX Group | |
 |
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| Type | Public (TSX: X) |
|---|---|
| Founded | Toronto, Ontario, Canada |
| Headquarters | Toronto, Ontario, Canada |
| Key people | Wayne Fox, Chairman Richard Nesbitt, CEO Michael Ptasznik, CFO |
| Industry | Financial |
| Products | Stock exchange, market data |
| Revenue | $328.5 Million (2005) |
| Website | www.TSX.com |
The TSX Group TSX: X owns and operates Canada's two major stock exchanges, the Toronto Stock Exchange, and the TSX Venture Exchange, formerly known as the CDNX. TSX Group is a cornerstone of the Canadian financial system and is at the centre of Canada's equity capital market. TSX Group owns and operates Canada's two national stock exchanges - Toronto Stock Exchange serving the senior equity market, and TSX Venture Exchange serving the public venture equity market - as well as NGX, which trades and clears natural gas and electricity contracts. From its preeminent domestic base, TSX Group's reach continues to extend internationally, providing the global financial community with access to Canada's equity capital market.
[edit] Overview
The TSX group is organized into 6 divisions:
- The Toronto Stock Exchange- Toronto Stock Exchange is Canada's senior equity market, consisting of a broad cross-section of Canadian issuers. Listing on Toronto Stock Exchange provides these issuers with a range of benefits, including opportunities to access public equity capital efficiently, liquidity for existing investors and the prestige and market exposure associated with being listed on Canada's senior exchange.
Issuers list a number of different types of securities on Toronto Stock Exchange, including conventional securities such as common shares, preferred shares, rights and warrants, and new types of innovative equity-related products such as exchange-traded funds and income trusts.
- The TSX Venture Exchange- As Canada's public venture equity market, TSX Venture Exchange provides emerging growth companies and entrepreneurs with a range of benefits, including opportunities to access public and private venture financing, liquidity for investors and the prospect of graduating to Toronto Stock Exchange in as seamless a manner as possible. At the same time, TSX Venture Exchange offers investors an opportunity to invest in emerging companies at an early stage and through a supervised market. TSX Venture Exchange is a capital-raising infrastructure for the small and medium-size businesses that are driving economic growth in Canada, building on its western presence while pursuing new growth opportunities in eastern Canada.
- The TSX Markets - TSX Markets facilitates trading on both Toronto Stock Exchange and TSX Venture Exchange. Brokerage firms, acting as principals or agents for retail and institutional investors, place orders through TSX Markets to buy or sell listed securities using its fully electronic trading systems. TSX Markets develops and delivers innovative trading products and provides services supported by a strong team of professionals.
- The TSX Datalinx - TSX Datalinx sells real-time and historical market data, corporate information and index products to facilitate investment and trading decisions of market participants. Timely and comprehensive information about market activity and listed issuers assist brokerage firms and investors in the decision-making process and facilitate efficient markets.
- The NGX - this division of the TSX Group operates the Natural Gas Exchange (NGX). NGX is a leading North American energy exchange based in Calgary. Established in 1994, NGX's unique market model provides a broad range of customers with one of the most highly liquid, secure and efficient environments available for trading and clearing natural gas and electricity contracts.
- The TSX Technologies - TSX Technologies is the technology team that powers TSX Group. TSX Technologies provides managed services, application development, architectural services and customized solutions for varying sized organizations across industry sectors. TSX Technologies' broad service offering and deep technical expertise provide their customers the opportunity to deal with a single accountable service provider.
The TSX group derives revenues from 3 sources:
- charge companies an annual fee to list on any of the 3 exchanges and to maintain that listing. Major financial institutions also pay a fee to the TSX group to become a TSX member firm.
- Charge member firms a commission on all trades executed on the exchanges.
- sell real time and historical market data, trading products, and licensing revenues from the use of its exchange indices.
Each of these activities is linked to the others in a manner that supports the growth of them all: Increased trading activity creates greater liquidity and generates data. More liquid markets attract new listings and participation by brokerage firms and investors, and New listings generate more trading and market data.
[edit] Management
The former CEO of the TSX Group was Barbara Stymiest. On September 2004, Stymiest announced her resignation as CEO of the TSX Group so that she could join the RBC Financial Group to serve as its COO [1]. On December 2004, the TSX Group announced the appointment of Richard Nesbitt as the new and current CEO of TSX Group. Richard Nesbitt had previously served as President and Chief Executive Officer of HSBC Securities Canada.
