TMX Group’s Kloet Says Exchange Considering More AcquisitionsDoug Alexander
TMX Group Ltd. Chief Executive Officer Thomas Kloet said the Toronto Stock Exchange owner is considering more acqusitions to expand its business.
“We are not standing still,” Kloet said, according to the text of a speech today at the Toronto Region Board of Trade. “We will acquire, when appropriate and strategic, key assets -- both small and large. -- that advance our business.”
TMX has expanded through acquisitions since Kloet joined the company as CEO in 2008. TMX added Canadian exchange owner Alpha Group and clearinghouse Canadian Depository for Securities Ltd. as part of a C$3.73 billion ($3.63 billion) takeover by a group of banks and pension funds in September. On Feb. 13, TMX agreed to buy Equity Financial Holdings Inc.’s transfer agent and corporate trust services business.
TMX Group and London Stock Exchange Group Plc agreed last week to a partnership that combines data pools and creates indexes that track C$1 trillion of bonds. The new provider will be called FTSE TMX Debt Capital Markets.