Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 5, 2024

Article Excerpt

TMX GROUP LTD., $31.50, symbol X on Toronto, is an operator of public trading platforms and a provider of ancillary services. The company owns Canada’s two primary stock exchanges, the Toronto Stock Exchange and the Montreal Exchange, as well as clearing entities for domestic Canadian markets (CDS and CDCC). It also holds U.K.-based Trayport, a trading software provider, and AST Trust Company, a leading provider of transfer agency, corporate trust and related services to Canadian public and private companies. On January 9, 2023, TMX Group announced that it had made a strategic investment in VettaFi Holdings LLC, a U.S.-based data analytics company that provides a platform for financial advisors and asset managers. TMX Group acquired 22% of VettaFi for $234 million. TMX also got two board seats as part of its minority investment. VettaFi aims to provide a comprehensive suite of global indices, plus ETF services including ETF trends and analytics and a global ETF database. In addition to providing interactive online…