Skip to content
Subscriber Only

TMX Readying for Showdown With Nasdaq for Canadian Unicorns

  • Looks to cut compliance cost of venture exchange to lure tech
  • CEO says drop in stock on Nasdaq news is an overreaction
Video player cover image

TMX CEO: We Have to Be Ready for More Competition

The owner of Canada’s largest stock exchange is trying to make the company more enticing to technology startups amid new competition from Nasdaq Inc., the global heavyweight in tech listings.

TMX Group Ltd. wants more tech firms on its venue for small companies, the TSX Venture Exchange, with the goal of attracting companies from Silicon Valley and Canada’s technology hubs, Chief Executive Officer Lou Eccleston told reporters in Toronto on Thursday. TMX is cutting administrative and compliance costs and combating the perception the Venture Exchange is only for natural-resource firms, he added.