TORONTO – Several major financial services companies, including Royal Bank of Canada, are planning to set up a new Canadian stock market.
Other backers include two large Canadian mutual fund companies – CI Investments Inc. and IGM Financial Inc. – the U.K.-based Barclays banking group.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
The venture, to be called Aequitas Innovations Inc., would be an alternative to the Toronto Stock Exchange and other markets owned by TMX Group Inc.
TMX is controlled by a different group of banks, pension funds and financial services companies.
Aequitas says it intends to introduce meaningful competition, reduce costs and improve market efficiency through innovation.
Comments