TMX Group Launches Financial Literacy Resource
Torronto (CA), November 2013 - TMX Group has announced its creation of a capital markets education tool. The TMX Capital Markets Learning Centre is a free, web-based information portal designed to help Canadians gain a better understanding of the markets.
At the heart of the Centre lies the new TMX Trading Simulator, a unique, risk-free market experience where investors can trade both equities and options in a "real world" environment. With the TMX Trading Simulator, users simply sign in and create a virtual portfolio; they are then ready to employ a variety of trading strategies against actual market data.
"TMX Group is proud to be involved in Financial Literacy Month and to contribute to the advancement of investor education in Canada," said Thomas Kloet, CEO, TMX Group. "The goal of this new centre is to provide all levels of investors and students with valuable educational resources and to bring Canadians closer to the action - to trade our markets and gain realistic, hands-on experience."
"Financial literacy is as important as reading: it's an essential life skill. The launch of the TMX Capital Markets Learning Centre is a perfect example of how we can increase the financial literacy of Canadians," said Lucie Tedesco, Commissioner, Financial Consumer Agency of Canada (FCAC). "This launch is particularly fitting for the half-way point of Financial Literacy Month, when organizations from the private, public, and voluntary sectors across Canada are holding activities, collaborating and introducing resources to help Canadians improve their knowledge, skills, and confidence in making responsible financial decisions."
TMX Group is committed to educational initiatives across Canada, including the Montreal Exchange's very successful derivatives-education project, targeted at expanding the profile of options trading at the grassroots level. This year the university partnership program expanded across campuses in Quebec, Ontario, New Brunswick, and Nova Scotia and now has 16 MX student ambassadors promoting the initiative. Over 800 teams are participating in the national business school competition.