TORONTO – The headquarters for Canada’s largest stock exchange will get a new home in the fall of 2017.
TMX Group Ltd. (TSX:X), the owner of the Toronto Stock Exchange, the TSX Venture Exchange, the Montreal Exchange and other securities markets, said Wednesday it will move into a new 40-storey tower that’s being built by Oxford Properties Group.
The new address at 100 Adelaide St. W in downtown Toronto is near the current Exchange Tower, which is a block south at 130 King St. W.
Carolyn Quick, a spokeswoman for TMX Group, said the stock exchange operator is not sure yet whether any aspects its business will remain at the current location.
“We will be finalizing that closer to the time of our move,” Quick said in an email.
The new, 900,000 square-foot building, which will cost Oxford around $400 million to build, will be named the Ernst & Young Tower after its flagship tenant.
“Both tenants went through rigorous processes to evaluate options and ended up choosing our asset,” said Oxford president and CEO Blake Hutcheson.
“We’re excited to have them and it’s a real compliment to the real estate. This will be one of the most modern, energy efficient, state-of-the-art structures ever to be built in Toronto.”
The building that’s currently standing at 100 Adelaide St. W will be torn down, but its historic facade — including mosaics by Group of Seven artist J.E.H. MacDonald — will be integrated into the new structure.
“We’re preserving all of the architectural features that have both been designated and admired,” said Hutcheson.
“Our whole design took into consideration those factors and we think it will be a neat and well-respected marriage between the old and the new.”
Construction of the new tower is expected to be finished by June 2017.
Oxford has hired world-renowned architectural firm Kohn Pederson Fox, known for the Shanghai World Financial Center, the Unilever House in London and Tour First in Paris.
Michael Vivaldi, the TMX Group’s vice-president of finance and administration, said the new space will “provide a state-of-the-art, sustainable workplace in close proximity to key local clients.”
“As we have grown and diversified our organization, our efforts to integrate our acquisitions and optimize synergies have made clear the importance of a workspace that fosters innovation and teamwork,” said Vivaldi.