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TMX Group makes investment in Bermuda Stock Exchange

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TMX Group Inc has purchased a 16% minority stake in the Bermuda Stock Exchange (BSX). TMX Group is now one of the largest shareholders of the BSX, and Tom Kloet, CEO, TMX Group, will be joining the BSX board of directors.

The announcement comes at a time of increased business activity between Bermuda and Canada. Most notably, a Tax Information Exchange Agreement was signed between the two countries earlier this year, effective 1 July, 2011.  In addition, the BSX gained recognition as a Designated Stock Exchange under Canada’s Income Tax Act, effective 31 October, 2011.
 
”This investment represents TMX Group’s commitment to looking beyond Canada for opportunities,” Kloet says. “BSX and TMX Group both have a culture of continually striving to innovate and offer our clients enhanced products and excellent customer service. I am certain we will be well aligned as we consider future initiatives together.” 
 

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