TSX Company Services, part of TMX Group, a group of exchange operating cash and derivative markets and clearinghouses, has inked a strategic partnership with Solium Capital Inc. (TSX:SUM), expand the group’s client offering in a symbiotic accord, according to a TMX statement.
Solium Capital is a provider of cloud-enabled services for global equity administration, financial reporting and compliance. Its decision to team up with TSX Company is tendered with immediate effect and touches on the technological and equity-focused solutions between the two venues.
More specifically, the accord between TSX Company and Solium will also see enhanced services to both public and private companies. For its part, TSX will also aim to position itself as a more driving market force in Canada.
Axia Extends Market Footprint in GCC RegionGo to article >>
According to Loui Anastasopoulos, President, TSX Trust and Managing Director, TSX Company Services, TMX Group, in a recent statement on the accord, “We are excited to enter into this alliance with Solium, an innovative industry leader, to broaden and invigorate our client offering.”
“As we continue our work to address priority needs in the market place, we believe Solium’s leading edge technology and services are a natural extension of our existing suite of transfer agent, trust and private markets solutions.”
“TSX Company Services is a powerful brand in the Canadian market. The strategic relationship between TMX and Solium will help Canadian-listed companies access high quality, unified solutions to manage their equity compensation and savings plans. This flexible, integrated solution is superior to anything in the marketplace today,” added Cameron Hall, Executive Vice President (EVP) Canada, Solium.
The announcement is the latest update at TMX and its exchanges since the group implemented a new trading schematic for all instruments on the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) – the group now features four letter stock symbols, which was designed to help offer Canadian issuers and applicants greater flexibility in how they identify themselves on the broader market.