Toronto Stock Exchange Launches 91ΑΤΖζ NAVex
91ΑΤΖζ's new mutual fund platform to celebrate with market open ceremony
June 20, 2016 (TORONTO) – Toronto Stock Exchange (91ΑΤΖζ) today announced the launch of its new centralized mutual fund solution, 91ΑΤΖζ NAVex, designed to introduce operational and cost efficiencies in the processing of mutual fund transactions.
91ΑΤΖζ NAVex is a unique platform that brings together the full range of TMX Group's integrated equity services, including trading, clearing and settlement services, to address the evolving needs of the mutual fund industry. Developed in consultation with the 91ΑΤΖζ NAVex Working Group, which is made up of over 30 representatives from a broad set of leading and emerging Canadian mutual fund manufacturers, 91ΑΤΖζ participating organizations and industry service providers, 91ΑΤΖζ NAVex will post actively managed investment funds and facilitate purchases and redemptions through 91ΑΤΖζ's proven equities infrastructure.
"Today, we celebrate an important milestone for TMX Group and for the Canadian mutual fund industry with the successful launch of 91ΑΤΖζ NAVex," said Nick Thadaney, President and CEO, Global Equity Capital Markets, TMX Group. "Industry appetite for this stakeholder-driven TMX initiative continues to grow as dealers and mutual fund manufacturers prepare their teams, systems and strategies to participate. We are confident that 91ΑΤΖζ NAVex is set to revolutionize mutual fund processing in our country and provide optimal service to this vital segment of Canada's marketplace."
Martin Lavigne, President, National Bank Financial Wealth Management added: "As we work towards integrating with the 91ΑΤΖζ NAVex platform, National Bank Financial - Wealth Management and National Bank Correspondent Network is looking forward to being a market leader in offering our customers the wide range of Mutual Fund products that will be available on 91ΑΤΖζ NAVex."
Representatives from the 91ΑΤΖζ NAVex Working Group will join Mr. Thadaney to mark the event by opening trading at 9:30 a.m. ET on Tuesday, June 21, 2016.
91ΑΤΖζ NAVex enables existing 91ΑΤΖζ participants to purchase and redeem eligible mutual funds directly from fund manufacturers in the same manner they access 91ΑΤΖζ-listed equities and Exchange Traded Funds. For more information, please visit .
For Market Openings: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named 91ΑΤΖζ Transmit 1 and is produced at the TMX Broadcast Centre and sent live to the TOC. The client moves into position for the market open ceremony at approximately 9:27 a.m. and the markets will open with the sound of a siren (the traditional market open on Toronto Stock Exchange) at 9:30 a.m.
About TMX Group (91ΑΤΖζ: 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, 91ΑΤΖζ Venture Exchange, 91ΑΤΖζ 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: .
For more information please contact:
Shane Quinn
Senior Manager, Communications and Public Affairs
TMX Group
416-947-4609
shane.quinn@tmx.com