TMX Group Announces Alpha Executive Departures

TORONTO, Sept. 24, 2012 /CNW/ - TMX Group Limited today announced upcoming management changes at Alpha Group.  Jos Schmitt, Chief Executive Officer, and Randee Pavalow, Chief Listings Officer and General Counsel, have elected to leave the company, effective October 31, 2012.

"Jos and Randee, working with a solid team of experts at Alpha, built a strong marketplace over the last several years," said Kevan Cowan, President, TSX Markets and Group Head of Equities.  "We respect their decision to leave the company and look forward to working with them between now and the end of October to ensure a smooth and seamless transition for our clients."

TMX Group and Alpha leaders have been actively engaged in integration planning since August 1, 2012.  Leadership for Alpha will be announced prior to Mr. Schmitt's departure.  Alpha now reports to the Equities team led by Mr. Cowan.

"We have accomplished a lot over the past four years and I am proud of the contribution Alpha has made to Canada's capital markets," said Mr. Schmitt.  "The integration of Alpha and CDS puts TMX Group in a unique position to further enhance its service offerings towards domestic and international market participants, while strengthening its global competitiveness."

About TMX Group (TSX:X)

TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community.  TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney.  For more information about TMX Group, visit our website at  Follow TMX Group on Twitter at


For further information:

Carolyn Quick
Director, Communications and Public Affairs
TMX Group

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