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At a speech at DeGroote School of Business in Burlington Ontario today, Rik Parkhill, President of TSX Markets said, “We, at TSX, operate in a very competitive global environment and we see competition in our listings, trading and data business everyday. We provide neutral, central marketplaces of superior technological construction and of the highest possible integrity. In each of the last three years, TSX Group’s technology budget has been approximately $50 million including $6.6 million in the recently reported Q1 07. At the same time, we continue to provide trading fees that are competitive on a North American basis.”
In development of new markets and sectors, Mr. Parkhill told students that one area of expansion TSX is looking at is in the area of the clean technology listings. “We are working hard at TSX Group, to make our markets support new, innovative companies emerging in the cleantech sector.” Cleantech is not a defined sector on Toronto Stock Exchange or TSX Venture Exchange. Mr. Parkhill added, “While we don’t have a strict definition of cleantech on our markets yet, we do have a number of issuers in the business of improving the environment.” TSX Group’s exchanges have 80 companies involved in all aspects of cleantech from fuel cell technology to water purification and wind power. These companies have a market capitalization of approximately $3.8 billion.
Mr. Parkhill went on to say, “We believe that innovation is alive and well in this emerging sector and, not only does it represent opportunities for a cleaner, greener tomorrow, but it also represents growth and rejuvenation in the capital markets themselves.”
Mr. Parkhill is calling on the businesses and the government to work together to make cleantech a strategic sector for Canada. “We can be world leaders in cleantech, just as we are in mining and oil and gas.”
Mr. Parkhill’s remarks to DeGroote School of Business Dean’s Speaker’s Day are available on clicking here.
