Wednesday April 27 2016

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General




On 25th April 2015, Toronto Stock Exchange (TSX) announced its new centralized mutual fund solution, TSX NAVex, has entered the client testing phase. Participating organisations of TSX can now connect to the TSX NAVex platform in a test environment in preparation for full launch, scheduled for June 2016. TSX NAVex enables IIROC dealers to purchase and redeem eligible mutual funds through the infrastructure of Toronto Stock Exchange (TSX).

The platform will provide streamlined processing and central clearing of mutual funds, similar to the trading of stocks and Exchange Traded Funds (ETFs). Through TSX NAVex, fund manufacturers will have the opportunity to offer actively managed products to the rapidly growing discretionary and fee-based advice channels.

Features of TSX NAVex:

  • Platform for purchasing and redeeming of mutual funds from the manufacturer (no matching of buyers and sellers)
  • Accessible through dealers` existing connections to TSX
  • Transaction price based on the end-of-day NAV
  • Inherent support for bulk trading
  • Fund ticker symbols distributed publicly alongside stocks and ETFs
  • Guaranteed settlement through CDS

Click on the link above for further details.