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TMX Group reports record $299.1-million in first-quarter revenue despite slowing market trading

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TMX continues to pivot from its stock exchange businesses as revenues from its global solutions, insights and analytics business grew by 14 per cent on a year-over-year basis

analyst Phil Hardie now expects TMX stock to be worth $161 a share in 12 months time, from $159 previously. In a note to clients, he said the results “continue to demonstrate the relative resiliency of [TMX’s] business model against a challenging backdrop.

“We have substantial runway in that business, the long-term plan we’ve built there has multiple prongs in terms of continuing to grow revenue,” Mr. McKenzie said in an interview. “Trayport is really strong in Europe, but that is not the only market where we can take it.” “As markets deregulate and become desegregated in terms of those pools of liquidity, Trayport provides value by bringing them all together on a single screen,” he said.

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