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Speaking at the CERT (Canadian European Roundtable) Energy Roundtable in London today, TSX Group CEO Richard Nesbitt discussed the importance of TSX to energy development in Canada. “TSX has been critical to our emergence as an energy superpower. Our success in oil and gas links is because we are operating from one of the most sophisticated resource investor communities in the world.”
He added, “Over the last five years, only two exchanges have consistently raised more capital than TSX Group equity exchanges. New York was first, London was second, and TSX Group exchanges were third. So, although our combined exchanges are only seventh in the world by market cap, we’re hitting well above our weight where it really matters – raising capital. That matters a lot already and it will matter even more as the momentum surrounding Canada’s energy development continues to surge.”
There are 434 oil and gas companies listed on TSX Group’s exchanges – producing trading volumes over 10 billion shares valued at nearly $170 billion in the first half of this year. TSX Group also owns Natural Gas Exchange. NGX continues to develop its sophisticated system for clearing and settling physical gas and electricity contracts. In March, NGX reached an agreement to combine NGX’s strengths in physical clearing with the technology capabilities of Intercontinental Exchange (ICE) -- this extended the NGX and TSX footprint across North America. NGX also owns Oxen Inc., which owns the Alberta Watt Exchange (Watt-Ex), managing ancillary services procurement for operating reserves in the Alberta electricity market. Earlier this month, TSX Group expanded its energy holdings when it bought an option to purchase the leading Canadian electronic platform for trading and clearing crude oil, NetThruPut Inc. The option is exercisable in March 2009.
Click here to view Mr. Nesbitt’s remarks.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving
the public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income interdealer
broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Winnipeg, Calgary and Vancouver.
