TMX Group Ushers in a New Era in Canada's Markets with Post Trade Modernization

Rhea-AI Summary

TMX Group has implemented major upgrades to Canada's clearing technology infrastructure through its post trade modernization (PTM) initiative. The upgrade, launched by the Canadian Depository for Securities (CDS), replaces legacy systems for clearing, settlement, depository, and entitlement payments.

The new platform is powered by TCS BaNCS for Market Infrastructure, provided by Tata Consultancy Services. This technology upgrade strengthens Canada's position in global markets and supports recent initiatives like the Canadian Collateral Management Service launched in 2024.

According to John McKenzie, TMX Group CEO, this modernization is a game-changer for Canada's equities, fixed income, and OTC clearinghouse, enhancing the country's ability to compete for global investment. The project was completed through collaboration between CDS's clearing and technology divisions, TCS, and industry participants.

Positive

• Major technology upgrade of CDS clearing infrastructure, strengthening TMX's competitive position
• Implementation of TCS BaNCS platform enhances performance, scalability, and compliance capabilities
• Successfully launched Canadian Collateral Management Service in 2024
• Critical infrastructure modernization improves TMX's ability to attract global investment

Negative

• Significant capital expenditure required for technology modernization
• Complex transition period as legacy systems are replaced

CDS, Canada's equities and fixed income clearinghouse, introduces major upgrades to critical infrastructure designed to better serve global client base

Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - The Canadian Depository for Securities Limited (CDS), a wholly-owned subsidiary of TMX Group Limited (TMX Group), this week implemented upgrades to CDS's foundational clearing technology, designed under its post trade modernization initiative (PTM), which includes the replacement of certain legacy systems related to clearing and settlement, as well as depository and entitlement payments.

"Post trade modernization represents a game-changer for Canada's equities, fixed income and OTC clearinghouse and a key milestone in the evolution of TMX," said John McKenzie, CEO, TMX Group. "The launch of the new platform advances our core technology capability and ultimately strengthens Canada's ability to compete for global investment. TMX's investment in clearing technology also delivers on our enterprise wide commitment to ensuring these critical systems are efficient, resilient and adaptive. Above all, we are grateful for the contribution of our stakeholders in helping to vault Canada's markets to the front of the global pack."

Powered by TCS BaNCS^TM for Market Infrastructure, an industry leading high performance, scalable and standards compliant clearing and settlement solution provided by Tata Consultancy Services (TCS), the new platform represents a significant upgrade to critical components of Canada's capital markets infrastructure and will serve to power recent initiatives, including the Canadian Collateral Management Service, launched in 2024.

"The successful completion of the complex PTM project is the culmination of a great deal of hard work by a dedicated team here across clearing and technology divisions, working in close collaboration with TCS, and our network of industry participants," said Kevin Sampson, President, CDS. "I want to extend my sincere thanks to our team and to our valued stakeholders for stepping up to work alongside us to deliver a new, leading-edge solution to strengthen Canada's capital markets ecosystem."

For more information about PTM, please visit CDS - Modernizing the Post Trade Experience.

About TMX Group (TSX: X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx and TMX VettaFi, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna. For more information about TMX Group, visit www.tmx.com. Follow TMX Group on X: @TMXGroup.

For more information please contact:

Catherine Kee
Head of Media Relations
TMX Group
416-671-1704
catherine.kee@tmx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250194

FAQ

What upgrades did TMX Group (TMXXF) implement in its Post Trade Modernization initiative in 2025?

TMX Group implemented major upgrades to CDS's clearing technology, including new systems for clearing, settlement, depository, and entitlement payments. The upgrade uses TCS BaNCS for Market Infrastructure platform to enhance Canada's capital markets infrastructure.

How does TMX Group's 2025 post-trade modernization affect Canadian markets?

The modernization strengthens Canada's ability to compete for global investment by providing more efficient, resilient, and adaptive clearing systems. It supports recent initiatives like the Canadian Collateral Management Service launched in 2024.

What technology platform is TMX Group (TMXXF) using for its 2025 clearing system upgrade?

TMX Group is using TCS BaNCS for Market Infrastructure, a high-performance clearing and settlement solution provided by Tata Consultancy Services (TCS).

What benefits does TMX Group's post-trade modernization bring to global clients?

The modernization provides better service to global clients through improved clearing technology, enhanced market infrastructure, and more efficient settlement systems, positioning Canada's markets at the forefront globally.

When did TMX Group (TMXXF) complete its post-trade modernization project?

TMX Group completed and implemented its post-trade modernization project in April 2025, marking a significant milestone in upgrading Canada's capital markets infrastructure.