TMX Group Announces Business Integration Initiative
www.tmx.ccom – TORONTO – TMX Group Limited today announced a business integration initiative that is designed to advance the company’s evolution as a client-driven solutions provider to the Canadian and global capital markets. The objective of the initiative is to align, simplify and integrate relevant systems and operations to both lower the cost base and make TMX more nimble and adaptive.
“To ensure that we are best positioned to fully realize our vision of being a technology driven solutions provider that puts clients first, we must first become an integrated TMX,” said Lou Eccleston, Chief Executive Officer, TMX Group. “This initiative represents necessary initial steps toward aligning and simplifying our systems and processes and moving to implement a framework for continuous, client-driven innovation across all parts of our business.”
The first phase of TMX’s integration initiative addresses the technology and operations of its cash and derivatives clearing businesses, The Canadian Depository for Securities Limited (CDS) and the Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required. Glenn Goucher, President and Chief Clearing Officer, CDCC, has also been named President of CDS. Bringing together CDS and CDCC under one leader will harmonize the companies’ integration efforts across risk, operations, systems and business development. Both CDS and CDCC will continue to maintain the strong and focused approach to risk management for which they are known.
Mr. Goucher joined Montréal Exchange in 2001. Prior to assuming his leadership role at CDCC, he was Senior Vice President, Financial Markets, Montréal Exchange.
“Capital markets are becoming increasingly complex and presenting new challenges for our clients every day,” added Mr. Eccleston. “TMX is committed to addressing these emerging challenges and delivering a consistently superior client experience across the markets we serve. We are also focused on increasing total shareholder return, and on leveraging our capabilities across our business assets to drive faster delivery of innovative solutions and greater cost efficiencies.”
About TMX Group (TSX: X)
TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing, Singapore and Sydney. For more information about TMX Group, visit our website at http://www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
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