"This is an exciting and important event for the TSE and for all participants in Canada's capital markets," said Daniel Sullivan, Chairman of the Board of Governors of the TSE. "Demutualization will usher in a governance structure that is aligned with our competitive business model and strategy. As we succeed, so will all our stakeholders-the trading community, listed companies and investors, including investors in TSE Inc."
The TSE decision to demutualize was announced, and strongly supported, by both its Board and Member seatholders at its AGM in June 1999. At that meeting members authorized the TSE to demutualize and continue operations as a for-profit company under the Ontario Business Corporations Act.
Further details on the TSE's demutualization are available in the attached Notice to Members and Participating Organizations (2000-119), issued March 31, 2000.
The fully automated Toronto Stock Exchange consistently ranks among the world's top exchanges by market capitalization and trading volume. In 2000, the average daily value of TSE trading has exceeded $3 billion. As Canada's leading equities exchange, the TSE provides investors with a well-regulated, fair and accessible marketplace.
