TMX Group Limited (TMXXF)
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TMX Group Limited (TMXXF) Q2 2025 Earnings Call Transcript
TMX Group Limited (OTCPK:TMXXF) Q2 2025 Earnings Conference Call August 1, 2025 8:00 AM ET Company Participants Amin Mousavian - Vice President of Investor Relations, Treasury & Administration David Arnold - Chief Financial Officer John D. McKenzie - CEO & Director Conference Call Participants Aravinda Suranimala Galappatthige - Canaccord Genuity Corp., Research Division Christopher Mark O'Brien - Barclays Bank PLC, Research Division Etienne Ricard - BMO Capital Markets Equity Research Graham Ryding - Unidentified Company Stephen Boland - Raymond James Ltd.
TMX Group Limited (TMXXF) Q1 2025 Earnings Call Transcript
TMX Group Limited (OTCPK:TMXXF) Q1 2025 Earnings Conference Call May 6, 2025 8:00 AM ET Company Participants Amin Mousavian - Vice President of Investor Relations, Treasury, and Interim Chief Risk Officer John McKenzie - Chief Executive Officer David Arnold - Chief Financial Officer Conference Call Participants Étienne Ricard - BMO Capital Markets Aravinda Galappatthige - Canaccord Genuity Chris O'Brien - Barclays Capital Nik Priebe - CIBC Capital Markets Jaeme Gloyn - National Bank Financial Graham Ryding - TD Securities Brian Bedell - Deutsche Bank Operator [Abrupt start] -- conference operator. Welcome to the TMX Group Limited First Quarter 2025 Results Conference Call.
TMX Group: Owning The Race Track
TMX Group Limited, a key financial infrastructure provider, offers compelling growth with 55% recurring revenue and an expanding international presence, despite trading at a high 27X forward earnings. The company operates major Canadian stock exchanges and provides market data services globally, with significant revenue from its fast-growing Global Solutions, Insights & Analytics division. Recent Q4 2024 results show 17% organic growth, 30% EPS increase, and steady free cash flow growth, supporting consistent dividend increases and robust shareholder returns.
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TMX Group Limited Profile
| Financial Services Industry | Financials Sector | Mr. John D. McKenzie B.B.A., C.M.A., CPA, M.B.A. CEO | OTC PINK Exchange | CA87262K1057 ISIN |
| CA Country | 2,039 Employees | 23 May 2025 Last Dividend | 14 Jun 2023 Last Split | 17 Sep 2012 IPO Date |
Overview
TMX Group Limited is a key player in the global capital markets, offering a comprehensive range of exchange, market, and clearinghouse services not only in Canada but also on an international scale. The company, which was originally known as Maple Group Acquisition Corporation, underwent a name change to TMX Group Limited in August 2012. This strategic rebranding came after its incorporation in 2011, sealing its reputation as a cornerstone of financial and capital market services headquartered in Toronto, Canada. TMX Group's operations span across four main segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading and Clearing; and Equities and Fixed Income Trading & Clearing, each tailored to meet the diverse needs of its clientele in the trading and investment sectors.
Products and Services
- Global Solutions, Insights & Analytics
- Capital Formation
- Derivatives Trading & Clearing
- Equities and Fixed Income Trading & Clearing
This segment focuses on delivering critical equities and index data alongside integrated data sets that cater to both proprietary and third-party analytics. The aim is to empower clients with data-driven trading and investment decision-making capabilities. Additionally, it provides comprehensive solutions tailored to European and global wholesale energy markets, facilitating price discovery, trade execution, post-trade transparency, and seamless straight-through processing.
Under this segment, TMX Group operates the Toronto Stock Exchange, a leading platform for senior equities market transactions; the TSX Venture Exchange for public venture equity markets; and TSX Trust, which offers a range of services including corporate trust, registrar, transfer agency, and foreign exchange services. These platforms and services are designed to support the growth and development of businesses through efficient capital raising and management.
This critical segment includes the Montreal Exchange, Canada's national derivatives exchange; the Canadian Derivatives Clearing Corporation, which acts as a clearinghouse for options and futures contracts; and handling of various over-the-counter products and fixed income repurchase agreements. It underscores TMX Group's robust infrastructure in facilitating derivatives trading and ensuring financial security and efficiency in clearing and settlement processes.
Engaging in the trading operations across Toronto Stock Exchange, TSX Venture Exchange, and TSX Alpha Exchange, this segment also encompasses the clearing and settlement of equities and fixed income transactions, along with securities custody. Additionally, it offers fixed income inter-dealer brokerage services, highlighting TMX Group's comprehensive approach to equities and fixed income trading and clearing, thus addressing a broad spectrum of market needs.
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