TMX Group is set to acquire an undisclosed minority stake in ETFLogic as part of its agreement to invest in the US-based fintech.
The value of the investment was also not disclosed.
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Founded in 2017, ETFLogic offers analytics and portfolio tools to investment fund manufacturers as well as wealth management companies.
Last year, the firm partnered with TMX’s information services division TMX Datalinx to launch TMX LOGICLY.
LOGICLY integrates multi-asset research, such as mutual funds, ETFs, and stocks, AI-driven portfolio analysis, optimisation, and trading analytics, into a web-based portfolio management trading platform called Portfolio Coach.
It also offers tools that enables daily monitoring and actionable alerts based on each client’s IPS, tax-aware rebalancing, custodian integrations, active trade recommendations, and compliance audit trails.
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By GlobalDataTMX Group COO Jay Rajarathinam said: “We are excited to announce this investment in ETFLogic, as we continue our collaborative work on TMX LOGICLY to help bring advisors and investors greater transparency and efficient access to valuable insights and tools.”
ETFLogic CEO and co-founder Emil Tarazi said that the investment from TMX will boost the firm’s international distribution and enable it to further capitalise on the analytics and portfolio tools.
Tarazi commented: “Deepening our relationship with TMX, a company with a strong track record of innovation in the investment industry, is an exciting move forward for us.”
Earlier this month, CI Financial purchased a minority stake in Newton Crypto, following its participation in the Canadian crypto asset trading platform’s $20m Series B funding round.
