TMX invests in data analytics company VettaFi

Canada-based TMX, owner of the Toronto Stock Exchange, has taken a 21% stake in VettaFi for C$234m (US£175m)

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TMX invests in data analytics company VettaFi

Exchange operator TMX Group has announced a strategic investment in US-headquartered data analytics company VettaFi. 

The Canada-based group, owner of the Toronto Stock Exchange, has taken a 21% stake in VettaFi for C$234m (US£175m).  

The deal includes a commercial agreement to accelerate TMX Datalinx’s expansion, adding new sets of index and exchange-traded fund (ETF) services.  

John McKenzie, chief executive officer of TMX Group and Jay Rajarathinam, its chief operating officer, will join the VettaFi board of directors as part of the deal. 

VettaFi provides a suite of global indices through its index factory and ETF services, including analytics, databases and distribution. 

Rajarathinam commented: “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. 

“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.” 

Leland Clemons, chief executive officer of VettaFi, added: “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.” 

Image: Canva