TSX NAVex, a new mutual fund trading platform, is set to launch on June 20, Toronto-based TMX Group Ltd. confirmed Friday.
The new platform, which will allow participants to trade mutual funds through the Toronto Stock Exchange’s existing equity trading infrastructure, has been undergoing testing since April to confirm its readiness for trading firms and their access providers/vendors.
“This is a significant milestone in our efforts to extend transactional efficiencies, including trading, clearing, and settlement services currently in place for stocks and ETFs to the Canadian mutual fund industry,” the exchange says in a notice to members.
The forthcoming launch of the new TSX mutual fund trading platform follows yesterday’s announcement from Aequitas Innovations Inc. that four investment dealers have signed on to its fund trading platform, Aequitas PTF Connect.
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