The following is a summary of the TMX Group Limited (TMXXF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• TMX Group reported full year revenue of $1.19 billion, a 7% increase from 2022, mainly due to strong growth in GSIA, TMX Trayport, and TMX Datalinx.

• Despite four consecutive quarters of year-over-year revenue growth, the company saw slower growth due to decreased capital raising activity and lower equities and fixed income trading.

• Adjusted diluted EPS was $1.46 for 2023, a 2% increase from 2022.

• However, its operating expenses increased by 10% due to investments in the company and higher headcount and payroll costs.

• Q4 revenue was $301.5 million, a 9% increase from the previous year's Q4, but diluted EPS decreased by 16% to $0.31 due to a decrease in income tax expenses.

Business Progress:

• Key contributors to TMX's success in 2023 were GSIA, TMX Trayport, and TMX Datalinx, all of which achieved double-digit revenue increases.

• The acquisition of VettaFi was a major step aligning with TMX's strategic and financial objectives.

• TMX Group launched the TMX ESG Data Hub to assist investors with ESG-based investment decisions and sees growth potential in new and developing markets such as Japan, Korea, climate and renewables, and the expansion in the US market.

• Despite the slower capital raising activity that offset revenue growth, the company managed to set new records in equity trading, post-trade modernization, and interest-rate benchmarking.

• TMX Group ended 2023 with a stable footing and ensured capacity building for 2024 through structural changes.

More details: TMX GROUP LIMITED IR

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