Echelon, BLG team up to create “capital pool company”

Toronto-based Aequitas NEO Exchange Inc. announced on Thursday that it’s celebrating its first listing, which is also the first exchange-traded fund (ETF) in Canada not listed on the Toronto Stock Exchange.

Toronto-based Invesco Canada Ltd.’s PowerShares DWA Global Momentum Index ETF began trading on the Aequitas NEO Exchange on March 22, according to an announcement from the firm.

“For the first time in almost two decades, we witnessed the return of true competition to the listing of senior public securities in Canada,” says Jos Schmitt, president and CEO of Aequitas NEO Exchange, in a statement.

“With Invesco’s newest ETF listed on our stock exchange, we now offer a trading venue for all Canadian listed securities that isdriven by fairness, liquidity and transparency,” he continues, “and a listing venue focused on the best interests of investors looking to build wealth and corporations looking to raise capital.”

Invesco Canada’s decision to list its ETF on the Aequitas NEO Exchange was made following an extensive review of the exchange’s operations, in which the firm found it was pleased with the exchange’s focus on liquidity, investor access and efficiency, the announcement states.

“Our first momentum-based ETF has been trading for over a week and we have been pleased with the early level of liquidity and investor interest,”says Chris Doll, vice president of product and business Strategy for PowerShares Canada, in a statement.

“We are always looking for ways to be more efficient with our PowerShares ETF listings and we are strong believers in competition driving efficiency and innovation,” he adds. “As a shareholder, we have closely monitored the growth of the NEO Exchange since its launch, and with the development of our Global Momentum Index ETF, we determined the time was right to list on this new exchange.”

Photo copyright: cooldesign/123RF