Revitalizing TSX Venture Exchange
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The document outlines the TSX Venture Exchange's plans to revitalize the exchange. It discusses the exchange's history and stakeholder consultation process. The plans include reducing clients' costs through changes to sponsorship requirements and other policies. It also aims to increase capital and liquidity by connecting issuers to investors, promoting market making, and diversifying the types of companies listed. Progress reports in March and July 2016 provided updates on the initiatives.
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Revitalizing TSX Venture Exchange
- 1. Xplor 2016 Revitalizing TSX Venture Exchange Tim Babcock, TSX Venture Exchange
- 2. 2 Revitalizing TSX Venture Exchange Overview • History • December 2015 – Whitepaper • March 2016 – Progress Report • July 2016 – Progress Report • Next Steps…
- 3. 3 History • Public venture markets in Canada • Market conditions, changing landscape • Stakeholder consultation • Whitepaper – Revitalizing TSX Venture Exchange • Town Hall meetings
- 4. 4 Revitalizing TSXV • We will reduce our clients' administrative and compliance costs, in a meaningful way, without compromising investor confidence. • We will expand the base of investors financing companies and generally enhance liquidity. • We will diversify and grow the stock list to increase the attractiveness of the marketplace overall.
- 5. 5 Reducing Costs • Sponsorship • Shareholder approval requirements • Personal Information Forms (PIFs) • Transaction processing times
- 6. 6 Increasing Capital & Liquidity • Showcase TSXV issuers – raise awareness • Reduce barriers – cross-border trading • Connect issuers to investors • Market making – TSXV LiquidityPro • Promote financial literacy
- 7. 7 Diversify and Grow • SME Sales Team • Revise CPC Program • Tailor TSXV policies for non-resource issuers • Advocacy
- 8. 8 March 2016 Progress Report • Town Hall feedback • Internal process efficiencies • Market structure and short selling rules • Status of initiatives
- 9. 9 July 2016 Progress Report • Periodic auction proposal • Market making – TSXV LiquidityPro • Policy amendments – Policy 5.2 – shareholder approval – Policy 2.1 & 2.2 – sponsorship – Policy 2.4 – CPCs
- 11. 11 Thank you! Tim Babcock Director, Listed Issuer Services TSX Venture Exchange tim.babcock@tmx.com 416.365.2202