The TMX Group today announced it would contribute financing and resources to Toronto’s MaRS Centre for Impact Investing.
The company, which owns the Toronto Stock Exchange, said it would help development of an already under development on-line investing platform to connect impact ventures, funds, investors and service providers. The platform will launch later this year, pending approval from the Ontario Securities Commission.
Ilse Treurnicht, CEO of MaRS Discovery District, said: “MaRS is thrilled that TMX Group is a founding supporter in the MaRS Centre for Impact Investing,” adding: “The support and expertise of a global exchange leader will be invaluable as the centre strives to harness the momentum of the impact investing agenda to tackle Canada’s social and environmental problems in new and innovative ways.”
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MaRS Discovery District, which was formed in 2005, is a non-profit group formed in Toronto to take advantage of that city’s $1 billion in annual science and technology research spending. The group has since partnered with The Ontario Network of Excellence and has administered the Premier’s Summit Award for Medical Research. MaRS operates hundreds of thousands of square feet of office and lab space centres housing dozens of including startups, research programs and Fortune 500s such as GlaxoSmithKline and Merck, who have established outposts through MaRS.
The Maple Group, a collection of Canadian banks looking to buy the TMX, seems to have worked its way through the regulatory tangle that precludes its $50 bid for the the publicly listed company. The Ontario Securities Commission and the federal Competition Bureau and the Ontario Securities Commission have both approved the deal.
At press time, shares of the TMX Group (TSX:X) were down .4% to $48.20.