TMX Group has announced that it has made a strategic investment in VettaFi, the US-based, privately owned data, analytics, indexing, digital distribution, and thought leadership company.
VettaFi is described as a data-driven platform, built to empower and educate the modern financial advisor, asset manager and institutional investor. TMX Group has acquired approximately 21 per cent of the common equity of VettaFi for USD175 million, or approximately CAD234 million.
“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,” says 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.”
“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,” says 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 Jay Rajarathinam will join the VettaFi Board of Directors, effective immediately.
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.
