“Our countries have an opportunity to free our markets up from some of the trade restrictions. Canada has prospered under the first 15 years of free trade. Trade with the U.S. has tripled in that time to $580 billion a year and oil and gas are an important part of that trade. While there is free trade of the energy between our two countries, U.S. investors still cannot trade shares in the companies that are listed on our markets.”
On TSX Group exchanges, there are more oil and gas companies listed than any other exchange or exchange group in the world. At the end of 2005, there were 434 oil and gas companies and income trusts listed, more than on the next four largest stock exchanges combined. In 2005 there were 57 new oil and gas companies added to the stock lists.
TSX Group also owns Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts. Mr. Nesbitt told the audience that TSX is working with NGX to lever its strength in Canadian gas and power into other North American markets. He said, “Through NGX, TSX Group now has full-time people in Texas and California who are signing up customers, developing new products and gradually building liquidity.”
GasFair is Canada’s largest and best known energy conference and includes some of Canada’s leading experts in electricity and natural gas. The GasFair program is co-sponsored by the TSX Group/NGX and Peter Krenkel, President of the Natural Gas Exchange, is moderating some of the sessions.
Copies of Mr. Nesbitt’s remarks are available on tsx.com or can be downloaded on clicking here.