Initiative comes on the heals of consultation to improve public market access for smaller companies as rivals exchanges have improved their ability to take on the TMX
scheduled to be published Wednesday, Toronto-based TMX commits to “evaluating the need and appetite for a new, highly differentiated exchange” to complement the TSX Venture Exchange. The initiative follows a year-long consultation process on how to improve public market access for smaller companies as rivals such as the Canadian Securities Exchange and Cboe Canada have recently boosted their own capabilities to challenge TMX.
It will take another six to 12 months before TMX decides whether to move ahead with the new exchange, which, according to the report, would cater to “new categories of early-stage companies [and] alternative asset classes.” “We are talking about asset classes like tokenization, alternative assets [and] crypto,” he said. “There is a whole variety of things out there that don’t necessarily fit in the traditional exchange world.”mission of the NEO Exchange
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