The primary benchmark for the Canadian equity market is to remain the S&P/TSX composite index, as TSX Inc. and S&P Dow Jones Indices (S&P DJI) have agreed to extend their index agreement.
The firms announced on Wednesday the renewal of the agreement, which governs the creation and publishing of the various S&P/TSX indices that track the Canadian market, such as the S&P/TSX composite index and the S&P/TSX 60 index.
The agreement also provides the Montreal Exchange with rights to list futures and options on the S&P/TSX indices.
The terms of the deal are not being disclosed, notes a spokeswoman from S&P in New York.
“The S&P/TSX family of indices has long been, and will continue to be, considered as the leading measures of equity and derivatives markets performance in Canada,” says Lou Eccleston, CEO of TMX Group Ltd., the corporate parent of TSX Inc., in a statement.
Eccleston joined TMX Group in 2014 from S&P, where he was president, S&P Capital IQ and chairman of the board for the index business.
“TSX is one of our longest standing exchange relationships and we’re pleased to renew our agreement to operate Canada’s premier market benchmarks,” adds Alex Matturri, CEO of S&P DJI.