On June 25, 2013, Aequitas Innovations Inc. (Aequitas) announced its intention to establish a new Canadian stock exchange that will rival TMX Group Ltd.’s Toronto Stock Exchange. Aequitas was founded by a diversified group of Canadian corporations, including Barclays Plc, CI Financial Corp., IGM Financial Inc., ITG Canada Corp. and PSP Public Markets Inc.

Greg Mills, Chairman of Aequitas and Co-Head of RBC Capital Markets’ Global Equities division said that, “Through Aequitas, we have a compelling opportunity to create a level playing field for both retail and institutional investors by challenging certain predatory high frequency trading strategies which have impacted the quality of existing equity markets."