Canadian exchange group TMX is planning to open an office in London in early 2011, as part of a drive to build up its presence in the UK and European markets across financial services and exchanges in the equities, derivatives, data, energy and fixed-income markets.
The new London office will support the European efforts of TMX Group's derivatives exchange, Montreal Exchange (MX).
European development for MX interest rate and equity index futures and equity options is a response to growing interest from European and international participants in Canadian dollar-denominated assets, according to the exchange, which is also a minority partner with the London Stock Exchange in derivatives platform EDX London.
In addition to MX, TMX Group encompasses equities venues the Toronto Stock Exchange and TSX Venture Exchange, which list around 300 international organisations, as well as a Natural Gas Exchange, Boston Options Exchange, inter-dealer broker Shorcan and investor relations firm Equicom, from its headquarters in Toronto.
“We've built a strong and diversified portfolio under the TMX Group umbrella and have begun to expand our business to international markets over the last few years,” said Thomas Kloet, TMX Group CEO. “With a presence in London, one of the world's leading financial markets, we will be able to accelerate our international growth and better serve our existing and prospective European clients and partners.”
The TMX's plan to open an office in London follows the establishment of a low latency link from the UK and Europe to its Canadian markets in September 2010.