TMX Group listened to the desires of institutional investors to balance the trading risks of a new asset class.
The Canadian group of companies TMX intends to launch cryptocurrency futures on the exchange in Montreal. The group is the largest operator of the Canadian stock market. TMX, as of January 1, has 17 exchange-traded funds (ETFs) linked to digital assets.
TMX CEO John McKenzie says more dealers and institutional investors are adding crypto assets to portfolios for their clients or ETFs. But cryptocurrencies have high volatility, so now the group’s specialists are figuring out how to better manage risks. So far, TMX plans to launch the futures only for its largest clients.
In its latest financial report, TMX Group reported adjusted earnings of CA$1.77 per share. A year ago, the price was around $1.43. The company also increased its quarterly dividend by 8% to 83 Canadian cents.
Recall that in January, the largest consulting company in Canada conducted a survey, during which it found out that about 67% of Canadians would like to receive a salary in cryptocurrencies.
Source: Bits
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