TSX's innovative mutual fund platform expands dealer network and introduces new information portal designed to provide fund manufacturers with unique insight into activity
June 28, 2017 (TORONTO) – Toronto Stock Exchange (TSX) today provided an update on the progress of TSX NAVex®, its unique centralized mutual fund solution.
Across the mutual fund industry, interest continues to grow as Canadian dealers and fund providers converge on the platform in preparation for trading. TSX NAVex recently welcomed National Bank of Canada and the National Bank Correspondent Network (NBCN) along with Desjardins Securities as approved dealers. On the fund side, the first 19 symbols have been reserved and are set to go live later this year.
"As we approach the launch of active trading on the platform, we are excited to announce the addition of some of Canada's leading dealers and fund providers to TSX NAVex as well as the introduction of our innovative information portal," said Kevin Sampson, Managing Director, Equity Trading, TMX Group. "The culmination of two years of collaborative work with a wide range of industry stakeholders, TSX NAVex is set to deliver meaningful improvements in the quality and value of the marketplace experience for an important segment of our clients."
To coincide with the start of trading, TSX NAVex is announcing the launch of a new reporting capability that will provide fund manufacturers transparency into the advisors driving the sale of their products. The first of its kind in Canada, the TSX NAVex Information Portal was developed in collaboration with Broadridge Financial Solutions, Inc. to provide valuable intelligence about the distribution of products, while enabling essential functions such as commission processing.
"We're pleased to support asset managers and brokerage firms in the provision of data required to facilitate successful reporting of the TSX NAVex funds, and to leverage our unique position as a financial services information hub to facilitate new industry initiatives," said Donna Bristow, Managing Director, North American Wealth, Broadridge.
Developed in consultation with the Canadian mutual fund, dealer and legal communities, TSX NAVex enables TSX participants and investment advisors to purchase and redeem actively managed mutual funds through TSX in the same manner they buy and sell equities and exchange traded funds, or ETFs.
For more information on TSX NAVex, including a short introductory video, please visit http://www.tsx.com/tsx-navex.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston) as well as in London, Beijing and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
For more information please contact:
Senior Manager, Communications and Public Affairs