OTTAWA (dpa-AFX) - TMX Group Limited (X.TO) announced financial results for the second quarter, reporting an increase in net income, mainly due to strong revenue growth and higher income from operations.
Net income attributable to equity holders of the company was $142.6 million, or $0.51 per share, compared to $74.1 million, or $0.26 per share, in the prior year.
On an adjusted basis, net income attributable to equity holders of the company stood at $173.0 million, or $0.62 per share, compared to $146.4 million, or $0.52 per share, in the previous year.
Income from operations rose 18 percent, to $227.1 million from $192.1 million last year.
Revenue for the quarter ended June 30, 2026, totaled $487.5 million, up 16 percent from $421.7 million in the earlier year.
In a separate press release, the company also announced an agreement with MEMX, an exchange operator and market technology provider. Under this, TMX will make a strategic investment in MEMX. Concurrently, BOX, a US equity options market with both electronic and floor-based trading, will be combined with MEMX, and TMX will own an approximately 59% stake in the combined entity.
The new entity, which will be led by MEMX CEO Jonathan Kellner, will be funded by an equity investment from TMX Group of approximately $800 million, a rollover of TMX's existing equity interest in BOX, committed rollovers from a group of MEMX and BOX investors, comprised of key market participants, and an investment from a new financial partner.
The combined business will continue to operate independently after the transaction is completed, which is expected in the second half of 2027.
Currently, TMX is trading at C$52.24, up 1.01 percent on the Toronto Exchange.
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