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Toronto Stock Exchange (TSX) today announced that its new centralized mutual fund solution, TSX NAVex, has entered the client testing phase. Participating Organizations of TSX can now connect to the TSX NAVex platform in a test environment in preparation for full launch, scheduled for June 2016, subject to industry readiness.
Developed in collaboration with industry stakeholders and announced last fall, TSX NAVex is designed to bring transactional efficiencies, including trading, clearing and settlement services currently in place for stocks and Exchange Traded Funds (ETFs), to the Canadian mutual fund industry. The TSX NAVex platform will facilitate purchases and redemptions of mutual funds through the proven equities infrastructure of the Toronto Stock Exchange.
The range of TSX NAVex actively managed investment funds posted on the platform will be easily accessible for all connected participants currently trading TSX-listed equities and ETFs. Guided by the TSX NAVex Working Group, made up of representatives from a broad set of leading and emerging Canadian mutual fund manufacturers, TSX NAVex will offer a new and unique distribution channel for mutual funds tailored to the needs of the mutual fund community.
For more information, please visit http://www.tsx.com/tsx-navex.
