TMX backs MaRS fintech cluster

Source: MaRS Discovery District

MaRS Discovery District ("MaRS") today announced a new collaborative relationship with TMX Group ("TMX"), an integrated exchange group with key subsidiaries operating cash and derivative markets across multiple asset classes including equities, fixed income and energy.

Under the agreement, TMX is joining MaRS' Financial Technology ("FinTech") cluster to connect with leading startups currently developing financial services technology with a focus on big data, crypto currencies and capital markets.

Home to Canada's first dedicated FinTech cluster, MaRS offers high-growth financial technology startups a sophisticated and comprehensive set of resources, as well as access to domestic and international venture capital, customer and partner networks. TMX's collaboration will support MaRS FinTech entrepreneurs with a range of opportunities including the chance to work with TMX's recently launched eXplore TMX Innovation Lab, a design and development space which focuses on market solutions in technology and big data.

"I am delighted to announce our strategic collaboration with TMX as we continue to grow MaRS' FinTech cluster," said Adam Nanjee , Head of MaRS FinTech. "As part of MaRS FinTech, TMX will join MaRS' growing community of financial technology companies and entrepreneurs, and, in doing so, learn from and build on new knowledge in financial services research."

"Our relationship with MaRS FinTech will connect TMX to Toronto's growing financial tech ecosystem," said Dave Orzel , Head of eXplore TMX Innovation Lab. "It is an exciting opportunity for our company to engage and participate in local innovation while developing new solutions for our clients." 

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