TMX Group Inc. announced today that Standard & Poor’s Market Access Program will now be one of the fee-based services offered to Toronto Stock Exchange and TSX Venture Exchange issuers. Designed for issuers on both exchanges who qualify and who are not also listed on a U.S. exchange (NYSE, Nasdaq or Amex), this program includes a listing in Standard & Poor’s Corporation Records, a recognized securities manual that can facilitate secondary trading in up to 38 states under their Blue Sky Laws.
“The Market Access Program can significantly improve a company’s ability to reach U.S. retail investors and enable many U.S. investors to give further consideration to these Canadian listed securities,” said Richard Nadeau, Senior Vice President, Toronto Stock Exchange. Larry Neal, Executive Managing Director of Standard & Poor’s Equity Research added: “We are pleased Toronto Stock Exchange and TSX Venture Exchange are offering Canadian companies the opportunity to reach U.S. financial advisors through S&P’s Market Access Program.”
Publication in a recognized manual such as Standard & Poor’s Corporate Records may provide an issuer with an exemption from state registration where applicable. Manual exemption (or Blue Sky exemption) can be viewed as an alternative to inter-listing on a U.S. exchange or pursuing state-by-state registration in order for brokers to legally solicit/recommend securities to their clients.
The company information made available through the Market Access Program includes an S&P narrative description, share price, volume, dividends, shares outstanding, company financial position and earnings. Profiles are available on Standard & Poor's proprietary internet-based research platforms, which are used by more than 100,000 investment advisors. A “print friendly” version of Toronto Stock Exchange and TSX Venture Exchange companies included in S&P’s Market Access Program will also be available on www.tsx.com.
