With many new competitors entering the Canadian marketplace in the form of alternative trading systems and the existence of established competitors around the world, TSX Group is meeting these challenges with innovative product and service offerings, including development of the TSX Quantum, a new trading platform that is scheduled to begin its rollout at the end of this year.

"At TSX Group, we have embraced technology as our competitive advantage. We now offer trading products in equities, energy and debt markets. We offer clearing for our energy products and, subject to regulatory approval, intend to offer a new clearing facility for derivative products in 2009. We have entered into relationships with two of the strongest American marketplaces: International Securities Exchange for DEX and Intercontinental Exchange, for energy. When all of this work is complete, TSX Group will offer a complete package of products to meet the needs of its customers"

He went on to tell attendees at the speech that the pace of change is swift and far reaching in the exchange industry. "Whatever the outcome of this next phase of development, we at TSX Group are confident our exchanges will remain the primary source of price formation for trading Canadian products. We will need to continue to adapt to these new market conditions. Some of these changes may be profound. We believe it is critical for Canada to maintain a strong domestic capital market."