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- TMX Group is open to offering prediction markets and extended trading hours in Canada if client demand emerges.
- Over 50% of the 1,500 companies in TMX’s active IPO pipeline are non-Canadian businesses seeking capital.
TMX Group Ltd. said it is open to offering prediction markets and longer trading hours in Canada if clients want them, according to comments from chief financial officer David Arnold reported by the Financial Post on Sept. 29.
The remarks matter because they point to a possible expansion of exchange-traded event contracts in Canada — a market where digital wagering demand is already expanding through licensed platforms like Alberta online casinos — at a time when major U.S. and global exchanges are also pushing toward longer trading sessions. For readers tracking prediction markets, TMX’s comments suggest the idea is moving further into the mainstream exchange conversation, even if no launch has been announced.
Arnold said TMX already has experience extending trading hours through the Montreal Exchange, which synced to London trading hours in 2018 and added Asian-hour alignment in 2021.
“So we know how to do it,” Arnold said.
He added that Nasdaq, the New York Stock Exchange and the London Stock Exchange are planning to move toward trading sessions of at least 23 hours a day, five days a week. According to the report, Nasdaq and NYSE Arca expect to launch overnight trading on Dec. 6.
Arnold said TMX would be “very, very quick to follow suit” if enough demand emerges, but added, “I’m just not so sure the demand is there” for some Canadian stocks.
TMX points to U.S.-style event contracts as a possible model
On prediction markets, Arnold said TMX could replicate products similar to those being explored in the United States.
The Financial Post report cited an August filing by MEMX to offer binary bets tied to corporate earnings metrics, including yes-or-no contracts on whether a company beats analyst estimates. Arnold said, “I think that that is something that we could replicate in Canada.”
That comment is notable because TMX announced in July that it is set to become the majority owner of a company that includes MEMX and BOX Options Market. The report did not say when any Canadian prediction-market product might launch, and no specific contract design or regulatory timeline was provided.
IPO pipeline remains active, with many non-Canadian issuers
Arnold also said TMX’s IPO pipeline is still active. He said TMX tracks about 1,500 companies and that more than 50% are non-Canadian businesses looking to raise capital in Canada.
“Over 50% of them are non-Canadian businesses seeking to raise capital in Canada,” Arnold said.
Bloomberg data cited in the report showed seven companies went public on the Toronto Stock Exchange this year, raising nearly $3 billion. The TSX Venture Exchange recorded eight IPOs totaling $7 million.
What comes next is less clear. TMX has said it would move if clients show enough demand, but it has not announced a rollout date for either extended-hours stock trading or prediction markets in Canada.
Source: As reported by financialpost.com.
