TSX Venture Exchange (TSXV), a subsidiary of Toronto-based TMX Group Ltd., will introduce a new issuer-sponsored market-making service in September that is designed to enhance liquidity for public venture companies.
TSXV LiquidityPro is an optional program for companies listed on the venture exchange. The program will consist of pre-qualified providers that can supply quotation services, facilitate price discovery and increase overall liquidity for issuers, according to an announcement released Wednesday. It falls under the oversight and governance of TSXV.
“While we are certainly encouraged by the surge in performance year to date, our efforts to address key challenges affecting our venture markets continue,” said Kevin Sampson, managing director of equity trading at TMX Group, in a statement. “The launch of TSXV LiquidityPro is an important step forward in our revitalization initiative and represents vital collaborative work we have done with our stakeholders to ensure TSXV remains the world’s most successful venture market into the future.”
The program’s key features include a centrally managed competitive bidding process for licensed and pre-qualified TSXV LiquidityPro providers; service levels and fees that are tailored to each security; and monthly reporting to issuers providing details on their provider’s performance and activity.
Further details on the upcoming program can be found on TMX Group’s website.
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