TMX CEO wants lower barriers for TSX listings — SkimNews
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- TMX Group CEO John McKenzie wants lower regulatory and cost barriers for companies seeking to list on the TSX, as TMX looks to gain a competitive edge globally.
- John McKenzie says the drop in the number of issuers trading on the TSX is not limited to Canada and partly reflects growth concentrated in relatively few large-cap names.
- John McKenzie says it is good to have Canadian heavyweights able to compete on the world stage, but he wants small- and medium-cap names to thrive and scale up too.
- John McKenzie cites Enbridge, a multibillion-dollar company, to argue that the same tax and regulatory burden should not fall on a $20-million firm with fewer resources.
- TMX Group brought more than 300 new issuers into the market in the first nine months, two-thirds structured products and one-third companies.
Why it matters: McKenzie’s central case is about scale: a $20-million firm with fewer resources should not carry the tax and regulatory load of a multibillion-dollar company such as Enbridge. Smaller and medium-sized issuers are the clearest beneficiaries of the burden reduction he seeks, with the stated aim of helping them thrive and scale.
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