Deal includes a commercial agreement that will
accelerate TMX Datalinx's expansion, adding new comprehensive sets
of index and ETF services
TORONTO, Jan. 9, 2023
/PRNewswire/ - TMX Group Limited (TMX Group) announced today that
it has made a strategic investment in VettaFi Holdings LLC
(VettaFi), a US-based, privately owned data, analytics, indexing,
digital distribution, and thought leadership company. VettaFi
cultivates an industry-leading, data-driven platform, built to
empower and educate the modern financial advisor, asset manager and
institutional investor. TMX Group has acquired approximately 21% of
the common equity of VettaFi for US$175 million, or approximately
CAD$234 million. The transaction closed January 9, 2023.
"We are excited to announce a significant investment in VettaFi,
which includes a commercial agreement that will accelerate TMX's
global index strategy and increase the depth and value of
data-driven insights we provide to clients around the world," said
Jay Rajarathinam, Chief Operating
Officer, TMX Group. "VettaFi is a dynamic and growing index, ETF
data and related digital distribution business, and we look forward
to working together to explore ways to combine TMX Datalinx's data
sets and capabilities with VettaFi's comprehensive services and
expertise to further enhance our offerings."
VettaFi provides a comprehensive suite of global indices through
its index factory, robust ETF services including ETF trends and
analytics, a global ETF database, and distribution. In addition to
providing interactive online tools and research, VettaFi offers
asset managers an array of indexing and digital distribution
solutions to innovate and scale their businesses. For more
information visit vettafi.com.
"We are thrilled to forge this partnership with TMX, combining
VettaFi's data-driven indexing, analytics, and digital platform,
and TMX's global scale and TMX Datalinx business," said
Leland Clemons, CEO of VettaFi.
"Together we'll seek out new innovative opportunities for investors
of all sizes around the world to thrive, by creating new products
and digital communities and transforming traditional
distribution."
John McKenzie, Chief Executive
Officer, TMX Group and Mr. Rajarathinam will join the VettaFi Board
of Directors, effective immediately.
Evercore served as exclusive financial advisor to TMX Group, and
WilmerHale LLP acted as legal counsel to TMX Group.
Caution Regarding Forward-Looking
Information
This press release of TMX Group contains "forward-looking
information" (as defined in applicable Canadian securities
legislation) that is based on expectations, assumptions, estimates,
projections and other factors that management believes to be
reasonable as of the date of this press release. Often, but not
always, such forward-looking information can be identified by the
use of forward-looking words such as "plans", "expects", "is
expected", "budget", "scheduled", "targeted", "estimates",
"forecasts", "intends", "anticipates", "believes", or variations or
the negatives of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved or not be taken, occur or be
achieved.
Forward-looking information, by its nature, requires us to make
assumptions and is subject to significant risks and uncertainties
which may give rise to the possibility that our expectations or
conclusions will not prove to be accurate and that our assumptions
may not be correct. Such factors include, but are not limited to:
market competition; economic conditions generally; adverse effects
on our results caused by global economic uncertainties (including
Covid-19); the level of activity on our markets, and particularly
the level of trading in TMX Group's key products. A description of
the above-mentioned items is contained in the section Enterprise
Risk Management of our 2021 Annual MD&A.
We have no intention to update this forward-looking information,
except as required by applicable securities law. This
forward-looking information should not be relied upon as
representing our views as of any date subsequent to the date of
this press release. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information.
About TMX Group (TSX:X)
TMX Group operates global markets, and builds digital
communities and analytic solutions that facilitate the funding,
growth and success of businesses, traders and investors. TMX
Group's key operations include Toronto Stock Exchange, TSX Venture
Exchange, TSX Alpha Exchange, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, and Trayport which provide listing markets,
trading markets, clearing facilities, depository services,
technology solutions, data products and other services to the
global financial community. TMX Group is headquartered in
Toronto and operates offices
across North America (Montréal,
Calgary, Vancouver and New
York), as well as in key international markets including
London, Singapore and Vienna. For more information about TMX Group,
visit our website at www.tmx.com. Follow TMX Group on Twitter:
@TMXGroup.
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SOURCE TMX Group Limited