TMX CEO Dives Deeper into ETFs

The CEO of the Toronto Stock Exchange’s parent company, TMX Group, is making big moves in the world of exchange-traded funds (ETFs). With the recent acquisition of ETF education company VettaFi, TMX Group aims to expand its ETF business on a global scale.

According to TMX Group CEO John McKenzie, ETFs are one of the most important innovations in investing over the past few decades. In an interview with CNBC’s “ETF Edge,” McKenzie stated, “What we were really looking to do is … get deeper into providing more support to our clients.”

Although ETF activity has cooled off from its peak in 2022, it remains stronger than previous years, as reported by iShares data. With the acquisition of VettaFi, McKenzie plans to leverage this partnership to facilitate the creation of new ETFs.

Through this collaboration, ETF providers can develop innovative products and solutions to reach a wider investing audience. McKenzie believes this strategic move will greatly benefit TMX Group’s clients and strengthen their position in the market.

Currently, TMX’s ETF Screener lists 1,264 ETFs and ETF-related funds on the Toronto Stock Exchange. With VettaFi’s expertise, TMX Group aims to create new ETFs that highlight Canada’s economic strengths and appeal to international investors.

“Our goal is to be a global player,” McKenzie emphasized. “This acquisition is a valuable asset that will enable us to grow not only in the U.S. and Canada but around the world.”

Since the completion of the acquisition on January 2nd, TMX shares have seen an 11% increase. This demonstrates the market’s positive response to TMX Group’s strategic move in expanding its presence in the ETF industry.

For more information on TMX Group and its ETF offerings, visit Business Today.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a professional advisor before making any investment decisions.