Canada's Markets lead industry efforts to align ticker symbol conventions
with U.S.
TORONTO, Nov. 2, 2016 /CNW/ - Yesterday TMX Group marked the
first trading day for four letter stock symbols on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), an industry
initiative designed to offer Canadian issuers and applicants greater choice in how they are identified and also to provide
interlisted issuers with the opportunity to be uniformly represented throughout the North American marketplace. Prior to this
initiative, a stock's root symbol was limited to three letters or less.
"Across the markets we serve, TMX has moved to partner with our clients to seek out new solutions and effect positive change,"
said Nick Thadaney, President & CEO, Global Equity Capital Markets, TMX Group. "We've seen tremendous interest from our
equities markets clients in expanding to four character symbols and, with valuable support from other service providers, we have
responded to meet their needs. Providing greater choice on our Exchanges remains a top priority for TMX and we look forward to
exploring new opportunities to broaden our solutions and services and lead Canada's markets into
the future."
Beginning November 1, six issuers on TSX adopted four character symbols: Colliers International
Group Inc. (CIGI), CounterPath Corporation (PATH), Enghouse Systems Limited (ENGH), Mercer International Inc. (MERC.U), ONEX
Corporation (ONEX) and Shopify Inc. (SHOP), and one issuer Trakopolis IoT Corp. (TRAK) began trading on TSXV under the new
symbol.
Shopify's symbol has expanded from its original two-letter symbol, "SH" to "SHOP" on TSX, which aligns with the company's U.S.
ticker symbol. Commenting on the change, Shopify's founder and CEO Tobi Lütke said, "We are
excited to announce 100% growth in stock ticker digits."
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.
SOURCE TMX Group Limited
