Toronto Stock Exchange's new mutual fund platform opens for client testing ahead of June launch
TORONTO, April 25, 2016 /CNW/ - Toronto Stock Exchange (TSX) today announced that its new centralized mutual fund solution, TSX NAVex, has entered the client testing phase. Participating Organizations of TSX can now connect to the TSX NAVex platform in a test environment in preparation for full launch, scheduled for June 2016, subject to industry readiness.
Developed in collaboration with industry stakeholders and announced last fall, TSX NAVex is designed to bring transactional efficiencies, including trading, clearing and settlement services currently in place for stocks and Exchange Traded Funds (ETFs), to the Canadian mutual fund industry. The TSX NAVex platform will facilitate purchases and redemptions of mutual funds through the proven equities infrastructure of the Toronto Stock Exchange.
The range of TSX NAVex actively managed investment funds posted on the platform will be easily accessible for all connected participants currently trading TSX-listed equities and ETFs. Guided by the TSX NAVex Working Group, made up of representatives from a broad set of leading and emerging Canadian mutual fund manufacturers, TSX NAVex will offer a new and unique distribution channel for mutual funds tailored to the needs of the mutual fund community.
For more information, please visit http://www.tsx.com/tsx-navex.
About TMX Group (TSX: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, TSX Venture Exchange, TSX 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: @TMXGroup.
SOURCE Toronto Stock Exchange
For further information: Shane Quinn, Senior Manager, Communications and Public Affairs, TMX Group, 416-947-4609, firstname.lastname@example.org