Toronto Exchange Operator Eyes New Venue for Fledgling Firms
- New exchange, accelerated ‘passport’ financing system planned
- Cryptocurrencies, NFTs under consideration, TSX Venture says
This article is for subscribers only.
The operator of the Toronto Stock Exchange is developing plans for a new trading platform targeting early-stage companies and alternative asset classes in an effort to spur activity as competition mounts.
The plan includes a “new, highly differentiated exchange” targeting growth companies, TMX Group, which operates the TSX and TSX Venture exchanges said in a white paper released Wednesday. The company hasn’t settled on exactly which asset classes will trade on the new exchange but is considering cryptocurrencies, NFTs, securitized real estate and stakes in private companies, according to Venture’s chief Tim Babcock.