- TMX Group’s (TSX:X) equity exchanges, Toronto Stock Exchange and TSX Venture Exchange (TSX:V), have signed a memorandum of understanding with B3 (Brazil Stock Exchange)
- The exchanges will investigate a Brazil-based solution that leverages Canadian expertise in the mining, energy and renewable energy sectors, among other areas
- This partnership is expected to facilitate cross-listings, enhance market access, and promote the exchange of information and best practices between the two exchanges
- TMX Group last traded at C$43.69 per share
TMX Group’s (TSX:X) equity exchanges, Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSX:V), along with B3 (Brazil Stock Exchange) have signed a memorandum of understanding (MOU).
In a move to enhance public market opportunities, the exchanges will investigate a Brazil-based solution that leverages Canadian expertise in the mining, energy and renewable energy sectors, among other areas.
The MOU outlines a framework for TSX/TSXV and B3 to work together in creating more robust public market opportunities. This partnership is expected to facilitate cross-listings, enhance market access, and promote the exchange of information and best practices between the two exchanges. By leveraging each other’s strengths, TSX/TSXV and B3 aim to drive growth and innovation in the Brazilian markets.
The collaborative partnership aims to create an ecosystem that supports the dual listing of mineral research companies based in Brazil. By pooling resources, these companies can take advantage of the Brazilian and international investor bases, as well as the public markets in Canada. This partnership is designed to strengthen the financial ties between Canada and Brazil, providing mutual benefits and fostering economic development in both countries.
“We look forward to working with B3 as we leverage the expertise of our two organizations to explore synergies for energy transition and other evolving market industries in the small and mid-cap space,” Loui Anastasopoulos, Toronto Stock Exchange CEO and global head of capital formation, TMX Group, said in a news release.
“This collaboration will help B3 promote the dialogue among participants, regulators, government officials and investors in order to attract liquidity to Brazilian mining companies,” B3’s CEO, Gilson Finkelsztain, added. “Moreover, it reinforces B3’s commitment to the sector, bringing investment alternatives to institutional and individual investors willing to participate and engage in sustainable projects.”
B3 (Brazil, Bolsa, Balcão) is one of the world’s largest financial market infrastructure companies, providing trading services in an environment of high reliability and security. B3 plays a crucial role in the development of the Brazilian financial and capital markets.
TMX Group operates global markets and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. Its key subsidiaries include Toronto Stock Exchange, TSX Venture Exchange and Montreal Exchange.
TMX Group (TSX:X) last traded at C$43.69 per share.
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(Top image of TMX and B3 logos via Twitter/X)