Our partners at TMX are on their game and realize that exchanges are, at their core, data businesses. That is not a departure from their mission, it is the logical evolution of it. Markets run on information; liquidity, risk and strategy are all data-driven. Better data produces better signals, better execution and better outcomes.
In a market increasingly shaped by passive and systematic strategies, exchanges must compete on the basis of enabling efficient liquidity formation. Price discovery is the function exchanges uniquely provide, and price data is the scalable way to monetize it.
A commentary from CEO Mark Schaedel on TMX’s 2026 global data expansion, as reported by WatersTechnology: https://www.waterstechnology.com/data-management/7952900/tmx-eyes-global-expansion-in-2026-through-data-offering
