The Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), operated by Canada’s TMX Group Limited, has expanded its equity markets operations into Israel, helping foster a strengthened relationship with the Israeli business community. The effort represents the exchanges’ latest bid to reach new client segments and pursue a global growth strategy.
The latest expansion constitutes a new multi-lateral exchange of benefits and exposure into Canadian equity markets. While TSX has focused recently on other growth strategies, its efforts and partnerships have been confined to other groups or rather on a more domestic and regional basis. The TSX and TSXV’s collaboration with Israel further augments their growth, bringing a wider range of potential market participants into the fold as well as offering access to an enticing capital formation ecosystem.
Unique Listings Benefits
As Canada’s paramount equity market, TSX and TSXV will focus on building and fortifying existing relationships with the broader Israeli business community. The expansion is important for both Israeli market participants and investors given the level of exposure offered via the new collaboration. This includes access to North American investors in a securities regime capable of supporting emergent companies at all stages of growth. By extension, Israeli companies listing on the TSX or TSXV will also benefit from Canadian reporting issuers utilizing the US/Canada Multijurisdictional Disclosure System (MJDS) to speed up access to a US listing at any stage in their respective growth curves.
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Access to the MJDS system is a critical component for newer companies given that this option was previously only available to select Canadian issuers to use their Canadian disclosure documents to register a public offering of securities in the United States on a sovereign basis or in conjunction with a Canadian public offering, also satisfying requisite US continuous reporting obligations.
Yossi Boker Tapped for New Lead Role
The expansion will add to existing Israeli listings, currently numbered at six companies on the TSX and TSXV – these groups have a collective market capitalization of nearly $3.0 billion. In addition to the new market initiative, Yossi Boker has also been installed to help lead TSX’s Business Development in Israel, following nearly twenty-five years in key financial markets positions. His prior experience in the Israeli technology industry also makes him ideally suited for the new role.
According to Nick Thadaney, President and CEO, Global Equity Capital Markets, TMX Group, in a statement on the expansion and appointment of Mr. Boker: “We are very pleased to announce the appointment of Yossi Boker as Head of Business Development in Israel and have him lead our expansion into this key market. Our mandate is to raise the profile of our premier markets around the world.”
“Mr. Boker’s vast experience and expertise in the Israeli market will enable us to more effectively promote the advantages of TSX and TSXV’s unique capital formation ecosystem to potential clients and to better support Israeli companies listing on our Exchanges,” he added.