TMX CEO wants to see Canadian capital markets compete on world stage
CALGARY — The chief executive of TMX Group Ltd. says he'd like to see reduced regulatory and cost barriers for companies wanting to list on Canada's main stock exchange as it looks to gain a competitive edge globally.
John McKenzie, the CEO of TMX Group Ltd., has expressed his desire for a reduction in regulatory and cost barriers for firms seeking to list on Canada's primary stock exchange, the TSX. At a conference organized by the Alberta Securities Commission, McKenzie addressed concerns about a decline in the number of issuers trading on the TSX, noting that this issue extends beyond Canada and is partly due to the concentration of growth among a few large-cap companies.
While he acknowledged the importance of having Canadian heavyweights that can compete globally, McKenzie also emphasized the need to support small- and medium-cap companies that are eager to expand. He highlighted that the heavy tax and regulatory burden faced by large companies like Enbridge Inc. should not be imposed on smaller firms with limited resources.
In the first nine months of the year, TMX facilitated the entry of over 300 new issuers into the market, with two-thirds of these being structured products and the remaining one-third consisting of companies.
Written by urgent.news from CityNews's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
