TXM Group Limited, which is the operator of five marketplaces, recently reported its aggregator trading metrics.
The Group, as well as all its marketplaces, recorded a month-over-month increase of 19% for their average daily volume (ADV). According to the report, the ADV for all marketplaces, including the Toronto Stock Exchange, is 1.2 billion.
Additionally, for the year-over-year record, there was an impressive increase of 100% in 2021 against the previous year.
In terms of the monetary metrics, it recorded an impressive $11.3 billion for its January ADV in trading value contracts.
This represents a 5.6% increase in trading contracts against $10.7 billion for the previous month. The year-on-year ADV cash value also increased by 49% compared to the previous year.
More interest in the crypto industry
TMX Group is one of the firms not afraid to explore the cryptocurrency industry with several partnerships and services. The Group operates in various markets, including cash markets, derivatives markets, and clearinghouses. It does this through several subsidiaries in a wide range of asset classes. These include energy equities, fixed, income, and more.
The Group has increased its interest and involvement in cryptocurrencies since it launched its crypto brokerage services through Shorcan Digital Currency Network, one of its subsidiaries.
The Canadian Stock Exchange, operated by TXM group, recently listed digital payments infrastructure provider Banxa on its platform. The listing has already received approval from regulators.
Bitcoin miners flock into Canada
Bitcoin mining companies have seen Canada s a viable environment to grow their business. The country has a more favorable legal climate for cryptocurrency and Bitcoin mining companies, which has resulted in the influx of several of them. In terms of cost, they have found the place also attractive due to the cheaper electricity rate in the region.
TMX Group is based in Canada and provides technology services, information services, depository facilities, clearing. Trading, and listings for the local and international financial community.
Apart from operating the Toronto Exchange Market (TSX), the Group also operates the TSX Venture Exchange, which operates in the public venture equity market. TMX Group also operates the Canadian Derivatives Clearing Corporation (CDCC), Shorcan Brokers Limited, and TMX Equity Transfer Services.
It also has stakes in BOX Options Exchange as well as CanDeal.ca Inc. It has operating offices in the U.S. markets in Chicago, Boston, Houston, and New York. The Group also has offices abroad in Sydney, Singapore, Beijing, and London.