From CNBC:

The Toronto Stock Exchange’s parent company, TMX Group, recently acquired ETF education company VettaFi to expand its exchange-traded fund business globally, according to CEO John McKenzie. Despite a slight slowdown in ETF activity from 2022, iShares data showed 2023 activity was still high. McKenzie plans to use the acquisition to facilitate more ETF creation.

TMX’s ETF Screener currently lists 1,264 ETFs and ETF-related funds on the Toronto Stock Exchange. With the addition of VettaFi, McKenzie aims to create new ETFs focusing on Canada’s economic strengths and expanding reach to international investors. Since the acquisition on Jan. 2, TMX shares have risen by 11%.

McKenzie emphasized the importance of ETFs as a vital innovation in investing and sees the acquisition as a way to provide more support to clients. He envisions ETF providers creating new products to reach a broader investing audience. TMX’s goal is to become more global than local in its ETF offerings and expand its presence worldwide.



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