TMX Group reports from Toronto, Canada, that it is expanding its services into a new business area that will extend the efficiencies of equities trading and settlement to the mutual fund industry. It says the TSX NAVex Platform will facilitate purchases and redemptions of mutual funds using TMX’s proven equities trading, clearing and settlement infrastructure.
It says the new platform will provide registered dealers with easy access to a broad range of investment funds by leveraging connectivity, systems and processes well established in the industry. Mutual funds posted on the TSX NAVex platform will be visible to all participants who currently trade TSX-listed equities and ETFs, which coupled with inherent support for bulk trading, creates a new, efficient distribution channel for mutual fund manufacturers.
The centralised mutual fund solution is expected to launch in Q2 2016, subject to industry readiness.