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The Toronto Stock Exchange's parent company has already completed a major deal this year: its acquisition of ETF education company VettaFi. According to TMX Group CEO John McKenzie, the deal helps expand its exchange-traded fund business globally. McKenzie plans to utilize the VettaFi acquisition to facilitate more ETF creation. "ETF providers can create new products and great solutions so that they can reach a broader investing audience," McKenzie said. TMX's ETF Screener lists 1,264 ETFs and ETF-related funds on the Toronto Stock Exchange as of Friday.
Persons: John McKenzie, McKenzie, CNBC's Organizations: Toronto Stock, TMX, Toronto Stock Exchange Locations: U.S, Canada
"I think there is evidence out there that for the right transaction for the right reasons, investors will show up," said François Carrier, co-head of Desjardins Capital Markets. But not many dealmakers are expecting a rush of supply with an uncertain macroeconomic environment still keeping secondary equity markets volatile. The shares dropped well below their first-day high, potentially limiting a comeback in Canadian equity capital raisings and IPOs. "We do not have enough data to declare the IPO market open. Our own view is that we are still 12 to 18 months away from a robust IPO market," he added.
Persons: Dado Ruvic, Carrier, We're, we're, Enbridge's, Jeff Hershenfield, Stikeman Elliott, Stephen Pincus, Goodmans, John McKenzie, Neil Selfe, Maiya, Bernadette Baum Organizations: REUTERS, Rights, Dominion Energy, Desjardins Capital Markets, Arm Holdings, Capital Markets, TMX, Thomson Locations: IPOs, Canada, Unite States, Toronto, Klaviyo, raisings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTMX Group CEO John McKenzie sheds light on Canadian markets and the Toronto Stock ExchangeCNBC's Bob Pisani sat down with TMX Group CEO John McKenzie at the Piper Sandler Global Exchange & Fintech Conference to discuss the Toronto Stock Exchange's unique structure, navigating regulatory hurdles when it comes to cannabis and crypto and the future of AI.
Persons: John McKenzie, Bob Pisani, Piper Sandler Organizations: TMX, Toronto Stock Exchange, Piper, Piper Sandler Global, Fintech Conference, Toronto Stock
It's another consequence of the quasi-legality of the cannabis industry in the US. The Canadian cannabis giant Canopy Growth has long searched for a way to give its stock a much-needed boost. "We continue to have open conversations with the exchanges," Klein said. He added that Canopy's deal could provide a model for other Canadian cannabis companies that want to do business in the US. Jefferies said Nasdaq's objection to Canopy's plan was a key risk and that the rest of the cannabis industry should pay close attention.
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