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- calendar_today October 27, 2026
TMX Group Leader Seeks Global Competitiveness for Canadian Markets
The chief executive officer of TMX Group Ltd., John McKenzie, has highlighted the need for changes to help Canadian capital markets, particularly the Toronto Stock Exchange (TSX), compete on the world stage. These remarks were made during a conference hosted by the Alberta Securities Commission on October 27, 2026.
Addressing TSX Listings and Issuer Trends
During a discussion at the event, McKenzie was asked if he was troubled by the recent decline in the number of issuers trading on the TSX. He responded by noting that this trend is not unique to Canada but part of a broader pattern in global markets. He attributed some of the change to the concentration of growth among a few large-cap companies, which have captured significant market share and investor attention.
Balancing Large and Smaller TSX Issuers
McKenzie emphasized that while it is encouraging for Canada to have substantial large-cap companies able to operate globally, the success of smaller and medium-cap companies is also vital. He stated his desire for these firms to have the opportunity to grow and scale within the Canadian capital markets. According to McKenzie, achieving a more diverse and dynamic market requires attention to the unique challenges smaller players face.
Calls to Reduce Regulatory and Cost Barriers
One of McKenzie's main arguments focused on the need to address the regulatory and tax burdens faced by companies looking to list on the TSX. He pointed out that the obligations currently applied to major corporations, such as Enbridge Inc., should not necessarily be imposed to the same extent on smaller companies with fewer resources, such as $20-million firms. McKenzie suggested that reducing these barriers would help foster a more competitive environment for TSX listings and support Canadian capital markets more broadly.
Recent Growth in TSX Listings and Issuers
Despite the concerns about overall numbers, McKenzie shared that the TMX Group welcomed more than 300 new issuers to the market in the first nine months of the year. Of these new TSX issuers, approximately two-thirds were structured products, while the remaining third were companies. This indicates continued activity and growth within canadian capital markets, even as the sector adapts to ongoing challenges.
Looking Ahead for TSX Competitive Edge
McKenzie's comments underscore his commitment to making the TSX more accessible and competitive, both for established businesses and new entrants. By advocating for reforms to tax and regulatory frameworks, he aims to support a market where both large and small TSX issuers can thrive and contribute to Canadian economic growth on the world stage.
This report by The Canadian Press was first published on October 27, 2026.
Source: toronto.citynews.ca.
