New Canadian stock exchange Aequitas NEO Exchange (NEO) has received its first listing application, with PowerShares planning to list its new PDWA Global Momentum Index ETF on NEO.
“With a shared vision of bringing competitive and innovative solutions to the Canadian capital markets, Invesco Canada is the perfect partner to kick off the listing business on NEO,” says Jos Schmitt, President and Chief Executive Officer of NEO. “We have designed our listings offering to ensure we optimise the investor experience. We look forward to meeting the needs of companies and investment products who choose to list on NEO.”
Companies and investment products that list on NEO will have access to a number of benefits specifically designed for NEO-listed securities including: a liquidity program that provides reliable liquidity; free real-time market data to provide enhanced visibility and global transparency; and a streamlined process to minimise the cost and burden for issuers, both during the initial listing phase and on an ongoing basis. In addition, NEO provides its listings services at a competitive price, reflective of its cost of doing business.
“We have completed our due diligence on NEO’s operations, including its trading and market data business, and we are impressed with what we found,” adds Peter Intraligi, President, Invesco Canada. “Through innovative and competitive investment products, we strive to give investors new opportunities to achieve their long-term financial goals. Invesco is a strong advocate of free market competition, as we believe it spurs innovation, which ultimately benefits investors.”
By joining with Invesco for its first listing, NEO highlights the importance of investment products in the Canadian capital markets as Canadians seek new and innovative opportunities to preserve and grow their wealth. NEO also welcomes public companies and issuers of investment products who wish to migrate their existing listed securities to NEO, and gain access to its unique benefits.