In his first public speech of 2007 TSX Group Inc. CEO Richard Nesbitt will provide an update to The Rotary Club of Toronto on the organization’s key initiatives including technology initiatives and plans to enter the derivatives market.
Mr. Nesbitt will comment on the testing on TSX Group’s new equities trading engine, TSX Leapfrog, which is scheduled for a phased rollout beginning in Q4 2007. He will say that TSX Leapfrog is designed to be a state-of-the-art platform with world-class messaging capabilities and linearly scalable throughput with response times in the single digit millisecond range. “I am confident that we will be in an unparalleled position to offer state-of-the-art trading service and performance to our customers and build on our global strengths for the foreseeable future.”
Mr. Nesbitt will also provide an update on TSX Group’s derivatives plans, “In May 2006, we said we would provide an update on our direction for entering the derivatives market in 2009. I still believe that Canada needs a strong player that provides an integrated equities and derivatives offering to compete globally in the consolidating world of exchanges. Let me assure you that we are making progress in the development of our plans. In fact, today we believe that a strategic partnership, an acquisition or some combination of these alternatives is preferable to building the platform ourselves. We are encouraged by the number of other parties who are interested in working with us. We will have more to say to our customers and the marketplace as our plans evolve.”
A copy of Mr. Nesbitt’s remarks will be available on tsx.com or can be downloaded on clicking here.
Certain statements constitute forward-looking statements and are not historical facts but are based on certain assumptions and reflect TSX Group’s current expectations regarding future results or events. These statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially. Some of the risk factors that could cause actual results or events to differ materially from current expectations are outlined in TSX Group’s Annual Report, Quarterly Reports and Annual Information Form filed with securities regulators from time to time.
