Toronto Exchange Operator Eyes New Venue for Fledgling Firms

The operator of the Toronto Stock Exchange is developing plans for a new trading platform targeting early-stage companies and alternative asset classes in an effort to spur activity as competition mounts.

The plan includes a “new, highly differentiated exchange” targeting growth companies, TMX Group, which operates the TSX and TSX Venture exchanges said in a white paper released Wednesday. The company hasn’t settled on exactly which asset classes will trade on the new exchange but is considering cryptocurrencies, NFTs, securitized real estate and stakes in private companies, according to Venture’s chief Tim Babcock.

While TMX Group is still the country’s ...