TMX Group, a group of exchange operating cash and derivative markets and clearinghouses, has implemented a new trading schematic for all instruments on the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) – the group will now feature four letter stock symbols, per a TMX statement.
The beginning of the new display on both the TSX and TSXV was designed to help offer Canadian issuers and applicants greater flexibility in how they identify themselves on the broader market. Moreover, both exchanges will be able to provide interlisted issuers with the opportunity to be uniformly represented throughout the North American marketplace.
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The latest change represents a departure from the norm, which relied on a limit of three letters or less. This also helps align ticker symbol conventions with their US counterparts – this change will be implemented with immediate effect.
According to Nick Thadaney, President and Chief Executive Officer (CEO), Global Equity Capital Markets, TMX Group, in a recent statement on the change: “Across the markets we serve, TMX has moved to partner with our clients to seek out new solutions and effect positive change.”
“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,” he added.