TMX Group Inc. will provide its shareholders with an advisory vote on executive compensation at annual meetings, the operator of the Toronto Stock Exchange said Tuesday.

The non-binding advisory vote, also known as ‘say on pay’, will be submitted to shareholders beginning at the TMX annual meeting to be held in 2010.

In February, investors at CIBC and Royal Bank of Canada passed motions demanding the companies give them a voice on executive pay through non-binding shareholder votes — and the banks acquiesced.

IE