Ontario Municipal Employees Retirement System, Toronto, has joined an investor group seeking to create a new stock exchange in Canada.
The C$60.8 billion (US$58.8 billion) pension fund, through its OMERS Capital Markets public equity unit, is an investor in Aequitas Innovations, which filed a staff notice with the Ontario Securities Commission to ultimately seek approval for the new exchange. The OSC on Tuesday submitted a request for comment regarding the proposal from Aequitas, ahead of a formal application for recognition as an exchange.
Aequitas' proposed market structure combines multiple-order books, innovative approaches to matching priorities and market making, and mechanisms to prevent predatory trading behaviors, according to a statement on Aequitas' website.
“OMERS believes that Aequitas can create additional choice for trading in Canada — bringing the buyers and sellers of securities together efficiently and cost-effectively,” said Brent Robertson, director, trading, at OMERS Capital Markets, in an e-mail.
OMERS Capital Markets joins other investors including Barclays, CI Investments and the Royal Bank of Canada.