The parent company of the Toronto Stock Exchange has already completed a significant transaction this year: acquiring ETF education company VettaFi.
TMX Group CEO John McKenzie said the partnership will help the company expand its exchange-traded fund business globally.
“Exchange-traded funds are essentially one of the most important innovations in investing in the history of markets, at least the last 20 years.” [to] “What we really wanted to do was… dive deeper into providing more support to our customers,” McKenzie said on CNBC’s “ETF Edge” this week.
Although ETF activity has eased from 2022 records, 2023 activity was still higher than the previous year. ishares data.
McKenzie plans to use the VettaFi acquisition to spur the creation of more ETFs.
“ETF providers can create new products and better solutions to reach a wider audience,” McKenzie said. “This is the one-two punch of what we’re doing with that investment.”
Mr. TMX ETF screener As of Friday, there were 1,264 ETFs and ETF-related funds listed on the Toronto Stock Exchange.
By incorporating VettaFi into the exchange’s toolbelt, McKenzie hopes to create a new ETF that focuses on Canada’s economic strengths and how it can reach international investors.
“We want to be less local and more global,” McKenzie added. “This is a great asset To help us build, not just in the United States, not only in Canada, but all over the world. ”
TMX stock has risen 11% since the acquisition closed on January 2nd.
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