Equicom, the TMX Group's investor relations division, has taken the plunge and formally opened a U.S. operation that will be based in San Diego and headed by Mike Moore.
To date in 2010, the firm has organized around 30 U.S. road shows for clients and the demand for a bigger U.S. presence is only growing, said president Dave Mason.
The interconnection between Canada and the U.S. is made clear by simply looking at trading stats. 40 per cent of trading on TMX platforms -- most notably the Toronto Stock Exchange -- come from outside of Canada, Mr. Mason said. "Capital is flowing across the border more than ever. It's much different now than it was 8, 9 years ago."
Mike Moore, who specializes in health care and clean tech will man the San Diego operation, a location that was chosen because of its burgeoning community in these two sectors. It's also relatively close to Los Angeles and San Francisco.
Moreover, Mr. Mason said Equicom already has established contacts in the U.S. northeast, where most of its American road shows currently run, so there isn't much need for a big U.S. team right now. "This really gives us a chance to expand our footprint in the west... while still maintaining those east coast connections," he said.