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TMX Broadcast Centre in downtown Toronto October 22, 2013 2013.
TMX Broadcast Centre in downtown Toronto October 22, 2013 2013.
(Fernando Morales/The Globe and Mail)

TSX to create stock exchange for private companies

TMX Group Ltd. plans to launch an stock exchange for private companies, expanding its reach into a quickly growing market.

The initiative, announced Tuesday, is designed to complement the company’s existing exchanges, including the Toronto Stock Exchange and the Venture Exchange. By adding a marketplace for private companies, TMX hopes to attract accredited investors who want to swap shares of private companies.