Venture Forward - One Year Later
In 2022, TSX Venture Exchange (TSXV) launched Venture Forward, an ambitious initiative with the goal of strengthening Canada's vibrant and vital public venture market. Last June, we shared a comprehensive report that outlined our commitments to innovation and growth, and to clearing a path for new companies and investors to enter our ecosystem. Now, in July 2024, we are pleased to share an update on the 10 commitments that we made to ensure TSXV remains the world's leading public venture market.
For decades, TSXV and the entire ecosystem that support it have been recognized as globally unique. We are proud of what we have accomplished since the launch of Venture Forward. Our interactions with market participants are ongoing, and the need to evolve and adapt remains at the heart of what we do in order to empower entrepreneurs and investors.
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1
Passport Listings
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Launched in Q4 2023, TSXV Passport is a response to the evolving dynamics of the market, aimed at creating faster pathways for entrepreneurs to go public, raise capital, and achieve liquidity while upholding TSXV listing standards. TSXV Passport is now available and provides an innovative approach designed to fast-track the listing of advanced applicants meeting specified criteria. |
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2
Digital Transformation
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We continue to invest significantly in TMX LINXⓇ, our centralized portal for issuers and their advisors to interact with us. We are prioritizing our ongoing development efforts to digitize and automate processes that will enable accelerated review times of issuer submissions, and enhanced and efficient access to a broad suite of tools and services to support issuer success and reduce burdens. |
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3
TSXV SandboxTM
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Launched in Q1 2024, TSXV Sandbox encourages innovation and provides a defined and transparent forum to consider more exceptional and unique entrants to our capital markets. Flexibility has long been the foundation of the TSXV operating model, and TSXV Sandbox now provides a more formal platform for us to consider unique listing proposals, novel businesses, or new listing transaction structures. Through this initiative, we aim to open up a dialogue with issuers whose listing proposals may not easily fit within our published policies, and also encourage market evolutions that will add diversity among our listed issuers. |
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4
New and Highly Differentiated Exchange
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TSX has partnered with Canaccord Genuity to create Markette Ventures, a digital end-to-end solution for the private placement subscription process. Markette will provide access to multiple intermediaries, creating an expanded network of qualified sources of capital. In addition, we are continuing to explore opportunities to create a differentiated and complementary marketplace that would provide the benefits of both the public and private markets, to create a unique solution for entrepreneurs and investors to access capital and liquidity. |
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5
Pre-Filing Advisory Service
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TSXV is transforming our pre-filing advisory service to better define key decision points, clearly articulate our requirements, and highlight common challenges for all new listing applicants. Leveraging technology and our team's deep expertise, we have enhanced our internal processes to provide improved service, transparency, and guidance at the earliest stages of the listing process. |
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6
New Investor Access Tools for Issuers
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TMX Money - TMX MoneyⓇ is a Canadian leader in digital distribution for TSXV quotes. Each month over 800,000 unique users check 7.5 million quotes on TMX Money. We continue to invest in providing information that will support investor decision making and issuer visibility. Indexes - The S&P/TSX Venture Composite Index* tracks 127 TSXV issuers, shining a global light on our Exchange and these issuers. In addition, we continue to launch indexes like the S&P/TSX Energy Transition Materials Index*, which provide TSXV issuers access to passive capital. Wall Street Horizon - 75 million global investors and traders now have access to the public corporate events data for all TSXV issuers through our Wall Street Horizon (WSH) Global Events Calendar. WSH is a subsidiary of TMX and provides global corporate event data to global institutional traders and investors. |
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7
Investing in New Technologies
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Consolidated Data - TMX has announced the launch of a consolidated data feed that will give investors a more complete view of each company's liquidity. We believe TSXV issuers will benefit particularly from investors having improved visibility of liquidity across all Canadian marketplaces. TSX Deal Portal - Over 750 TSXV Capital Pool CompanyⓇ founders, bankers, and dealmakers have access to a deal portal with companies looking to raise capital. 55 companies have been added to the TSX Deal Portal during the first six months of 2024. |
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8
Attracting New Investors And Dealmakers To Our Markets
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TSX Investor Programs - Over the last year, our team has run 20+ investor conferences, profiling over 300 issuers to global investor audiences. Venture 50Ⓡ - Our flagship program celebrates our market and top-performing issuers, generating over 60 million impressions in total and more than 20,000 views for each issuer profile video. Australia - In 2023, we launched a full time presence in Australia to build the connections between the Canadian and Australian markets, particularly focused on the mining and innovation sectors. |
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9
Policy Modernization
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TSXV continues to work aggressively on modernizing our policies, including those related to escrow and capital structure, investor relations and promotional activities, and sponsorship for new listings. We have consulted extensively with our Advisory Committees as we pursue significant enhancements to our Corporate Finance Manual. |
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10
Advocating For Our Market
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SR&ED Credits - TMX has advocated for reform to Canada's flagship R&D support program, the Scientific Research & Experimental Development (SR&ED) program. Access to SR&ED for Canadian TSXV issuers would increase access to capital for public companies with qualifying projects. Reporting Standards and Public Company Burdens - As Canada looks to develop new sustainability reporting standards, TMX has advocated for proportionate application of the standards to public companies - specifically calling for a full exemption for all venture issuers. Support for Investing in Public Companies - TMX has advocated for government policy that supports and encourages investment in our public companies, such as our push to exempt investment in Canadian companies from the higher capital-gains-tax inclusion rate. |
Copyright © 2024 TSX Inc. All rights reserved. Do not copy, distribute, sell or modify this document without TSX Inc.'s prior written consent. This information is provided for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of the information contained in this article, and we are not responsible for any errors or omissions in or your use of, or reliance on, the information. This article is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The information provided is not an invitation to purchase securities listed on Toronto Stock Exchange and/or TSX Venture Exchange. TMX Group and its affiliated companies do not endorse or recommend any securities referenced in this publication. Capital Pool Company, TMX, the TMX design, TMX Group, TMX LINX, TMX Money, Toronto Stock Exchange, TSX, TSX Venture Exchange, TSXV, TSXV Sandbox, TSX Venture 50, Venture 50, The Future is Yours to See., and Voir le futur. Réaliser l'avenir. are the trademarks of TSX Inc. Wall Street Horizon is the trademark of Wall Street Horizon, Inc. and is used under license. All other trademarks used in this article are the property of their respective owners.
* The S&P/TSX Venture Composite Index and the S&P/TSX Energy Transition Materials Index (the "Indices") are the products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and TSX Inc. ("TSX"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and TSX® is a registered trademark of TSX. SPDJI, Dow Jones, S&P, their respective affiliates and TSX do not sponsor, endorse, sell or promote any products based on the Indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Indices or any data related thereto.
