203989663 - 1_i73yasvx - PID 1851201 Hello I am Ted Dixon with your INK morning report preview for November 19th. Brighter skies for Canada's stock exchange incumbent. The sun has been shining on Canadian stocks over the past year, with the INK Canadian Insider Index up more than 50%. One of the natural winners from the bull market is the TMX Group. It runs Canada's largest stock exchange, the TSX and has benefited from a rising number of issuers on the exchange. That means more listing fees and that is good for the bottom line. According to Refinitiv, the TMX's trailing 12-months free cash flow per share has been on the rise. While the TMX runs Canada's largest exchange, it has been facing competitive domestic pressures from centralized rivals such as Nasdaq Canada and there is also the prospect of competition from cryptocurrencies cryptocurrency exchanges which you know have the technology already to list tokenized versions of stocks. However, North American regulators have been relatively successful at slowing down the global rollout of such services, giving incumbent exchanges a chance to catch up. Although the TMX has been pretty quiet about its blockchain strategy, we would be surprised if it doesn’t have something on the drawing boards. Interestingly, this week Fidelity Clearing House rolled out what it believes is the first regulated entity to offer digital currency trading and custody to service institutional investors. We will have to see if the TMX Group has anything similar up its sleeve. (Insider Bertrand) Meanwhile, a director has spent over $2.5 million buying shares this month, signalling a high degree of confidence in the group's prospects. Well that is our summary for today and I hope to see you again next week as we let the insiders guide us to opportunity this fall. This is not a recommendation to buy or sell securities and nothing in this video or in INK reports should be considered financial advice information is for educational purposes INK employees may hold an interest in any stock mentioned in our videos or in our reports.