In remarks to the Institute of Corporate Directors (ICD) in Vancouver today, TSX Group CEO Richard Nesbitt discussed recent strategic alliances – the one with the International Securities Exchange (ISE) to form DEX, a new derivatives marketplace to be launched in 2009 and a second alliance relating to physical clearing and technology for North American natural gas and Canadian power markets between the InterContinental Exchange (ICE) and Natural Gas Exchange (NGX).
“What you are seeing here, broadly, are the latest steps in our transformation from a stock exchange dealing in equity securities to an exchange group dealing in multiple asset classes,” said Mr. Nesbitt.
Mr. Nesbitt also highlighted the cross-border shift in securities regulation and the continued global momentum behind free trade in securities.
“The possibility of free trade in securities will have to alter the way we look at the governance issue, so that we see it not just as a provincial or national issue but a cross-border issue.”
Mr. Nesbitt spoke on the evolution of foreign markets and its impact on attitudes toward regulation. "On a global basis, market participants are showing an increasing interest in the rapidly evolving issue of cross-border regulation and free trade in securities."
Mr. Nesbit called for members of the ICD to take an active interest in the evolving issue of cross-border regulation and free trade in securities.
A copy of Mr. Nesbitt’s remarks can be downloaded on clicking here.
