Toronto Stock Exchange and TSX Venture Exchange issuers can now participate in Standard & Poor’s Market Access Program to boost their visibility among U.S. investors, TMX Group Inc. announced on Friday.
The program, which is designed for issuers who are not also listed on a U.S. exchange, includes a listing in Standard & Poor’s Corporation Records—a recognized securities manual that can facilitate secondary trading in up to 38 states under their Blue Sky Laws. The program will be available to TSX issuers as a fee-based service.
“The Market Access Program can significantly improve a company’s ability to reach U.S. retail investors and enable many U.S. investors to give further consideration to these Canadian listed securities,” said Richard Nadeau, senior vice-president of the Toronto Stock Exchange.
The company information made available through the Market Access Program includes an S&P narrative description, share price, volume, dividends, shares outstanding, company financial position and earnings. Profiles are available on Standard & Poor’s proprietary internet-based research platforms, which are used by more than 100,000 investment advisors.
A “print friendly” version of Toronto Stock Exchange and TSX Venture Exchange companies included in S&P’s Market Access Program will also be available on the TSX Web site.
“We are pleased Toronto Stock Exchange and TSX Venture Exchange are offering Canadian companies the opportunity to reach U.S. financial advisors through S&P’s Market Access Program,” said Larry Neal, executive managing director of Standard & Poor’s Equity Research.
Publication in a recognized manual such as Standard & Poor’s Corporate Records may also provide issuers with exemption from state registration in some cases. Manual exemption can be viewed as an alternative to inter-listing on a U.S. exchange or pursuing state-by-state registration in order for brokers to legally solicit or recommend securities to their clients.
TSX issuers to gain visibility among U.S. investors
S&P program facilitates secondary trading of Canadian companies in U.S.
- By: Megan Harman
- January 18, 2009 January 18, 2009
- 11:35