TSX Venture Exchange will launch TSXV LiquidityPro in September, as part of its ongoing effort to revitalize the junior market.
The new service, which is optional, aims to help venture issuers access market making services under the oversight and governance of the exchange, TSXV says in an equities trading notice published on Wednesday.
Under the program, TSXV-listed companies will be able to select market makers from a pool of pre-qualified LiquidityPro Providers (LPPs) that provide a bid across a standardized set of market making metrics and its required monthly compensation.
The service will also provide standardized market-making agreements managed by TSXV, monthly accountability and support, and billing administration based on performance provided by TSXV.
Applications from firms seeking to serve as LPPs under the program are now being accepted from dealers that belong to TSXV.
“This process helps companies select an LPP specific to their individual needs while also establishing clear expectations around the service level to be delivered,” the TSXV notice says.
“Once in place, LPPs are monitored and measured under the governance, reporting, and enforcement standards of TSXV and full transparency is provided to participating companies around their chosen LPP’s performance,” it adds.
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