Canadian financial services firm TMX Group has purchased a 21% stake in VettaFi, a US-based provider of exchange-traded fund data and analytics as well as indexing solutions.  

The deal, which closed on 9 January 2023, is valued at $175m.

VettaFi develops data-driven platform to educate financial advisor, asset manager and institutional investor.

It offers a wide array of global indexes as well as a variety of ETF services, including ETF trends and analytics, a global ETF database and distribution services,

TMX Group COO Jay Rajarathinam said: “We are excited to announce a significant investment in VettaFi, which includes a commercial agreement that will accelerate TMX‘s global index strategy and increase the depth and value of data-driven insights we provide to clients around the world.

“VettaFi is a dynamic and growing index, ETF data and related digital distribution business, and we look forward to working together to explore ways to combine TMX Datalinx‘s data sets and capabilities with VettaFi’s comprehensive services and expertise to further enhance our offerings.”

Under the arrangement, TMX Group CEO John McKenzie and Rajarathinam will join the VettaFi Board of Directors.

VettaFi CEO Leland Clemons said: “We are thrilled to forge this partnership with TMX, combining VettaFi’s data-driven indexing, analytics, and digital platform, and TMX’s global scale and TMX Datalinx business. “Together we’ll seek out new innovative opportunities for investors of all sizes around the world to thrive, by creating new products and digital communities and transforming traditional distribution.”