The parent company of the Toronto Stock Exchange has completed a major deal this year: the acquisition of ETF education company VettaFi.
John McKenzie, chief executive of TMX Group, said the transaction would help expand its global exchange-traded fund business.
“Exchange-traded funds have been essentially one of the most important innovations in the history of market investing for at least the last 20 (to) 30 years,” MacKenzie said this week on CNBC’s “ETF Edge.” “What we really want to do is is… going deeper and providing more support to our customers.”
According to the statistics, although ETF activity has cooled down from 2022 records, activity in 2023 is still higher than in previous years Anshuo data.
McKenzie plans to use the VettaFi acquisition to facilitate the creation of more ETFs.
“ETF providers can create new products and great solutions to appeal to a wider investing audience,” McKenzie said. “That’s the one-two punch we’re delivering with this investment.”
TMX’s ETF Screener As of Friday, there were 1,264 ETFs and ETF-related funds listed on the Toronto Stock Exchange.
With VettaFi in the exchange’s tool belt, McKenzie hopes to create a new ETF focused on the strength of Canada’s economy and how it attracts international investors.
“We want to be more global, not local,” McKenzie added. “This is a huge asset Help us build not just in the United States, Canada, but around the world. “
Since the completion of the acquisition on January 2, TMX Shares rose 11%.
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