TMX Group Acquires Stake in VettaFi

Canadian exchange operator TMX Group has paid US$175 million for a 21% stake in data, analytics, indexing and digital distribution firm VettaFi.

The two firms have also signed a commercial agreement that adds new sets of index and ETF services to TMX's Datalinx business.

The exchange operator has been aggressively expanding Datalinx, recently buying Wall Street Horizon, a provider of action and corporate event data.

Jay Rajarathinam, COO, TMX Group, said: "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."

Rajarathinam and TMX CEO John McKenzie join the VettaFi board immediately.