This post was originally published on smallbizadvisor.ca.
OMERS Capital Markets and BCE have both joined Aequitas Innovations, a consortium that plans to launch a competitor to the Toronto Stock Exchange.
The group includes Barclays, CI Investments, IGM Financial, ITG Canada Corp., PSP Investments and RBC Dominion Securities.
Recently, the Ontario Securities Commission (OSC) brought attention to the group’s plans via a staff notice relating to the Aequitas proposal to build a new stock exchange in Canada. The notice sets out OSC staff views on the current market structure in Canada and requests comments in connection with the proposal.
“The Ontario securities regulator has laid out a process through which everyone—whether investor, existing or future issuer, or dealer, small and large—should make their voice heard,” says Jos Schmitt, CEO of Aequitas Innovations. “The transformation of our industry and rebalancing of our public markets begin now.”