TSX CEO Discusses The North American Focus - Richard Nesbitt Highlights Unique Benefits Of Canada And TSX To New York Business Audience

In his first speech in the U.S. since becoming CEO of TSX Group, Richard Nesbitt today told guests to the Borders Breakfast Series in New York that he sees TSX as a serious player in the North American marketplace.

He pointed to a communiqué, signed in March in Texas, by the leaders of the three NAFTA countries – Presidents Bush and Fox and Prime Minister Martin. The communiqué stated that the United States, Canada and Mexico will work together towards the freer flow of capital and the efficient provision of financial services throughout North America.

Mr. Nesbitt believes there is a need to view the NAFTA countries “as a single market for securities, not as three markets pursuing their separate ways.” He added all three countries are wealthier because of the North American Free Trade Agreement “but we could be wealthier still.” He went on to say, “The compartmentalization of our three markets hurts investors. It hurts investment flows. And it hurts economic growth in all three countries.”

Mr. Nesbitt acknowledged there has been considerable interest in Canada, citing research that showed the S&P/TSX Composite Index was up 50 per cent in the last two years or, taking account of changes in the relative value of our dollars, up 83 per cent in U.S. dollar terms. He also played up the benefits of trading on the TSX markets, citing a recent survey – published in Institutional Investor – that rated Canada as the lowest cost market for institutional trades in North America, and the second lowest in the world among 42 countries. “So Canada is not just a good place to invest, it’s a good place to trade,” he told the audience.

Click here to read Mr. Nesbitt’s remarks.

About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market as well as Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts. TSX are the initials attached to the core equity operations of the TSX Group (www.tsx.com): Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.