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Capital Markets Institute

January 15, 1998 - The Toronto Stock Exchange has invested $2.75 million to establish a capital markets institute at the University of Toronto. The institute will bring together academics and leaders in industry and government to conduct research in the area of Canadian capital markets and related public policy.

The new institute will include two fully endowed academic chairs at the Joseph L. Rotman School of Management and at the Faculty of Law. Each chair will be funded at $1 million each, with U of T matching the donation for a total endowment of $4 million. The funds will enable the two chairs to develop concentrated research and teaching in the area of capital markets and will play a central role in establishing the programs of the new institute. In addition, the TSE will provide $150,000 per year for five years ($750,000) to fund basic research in capital market issues and programmatic activity at the two faculties, including roundtables, seminars and a working papers series.

"Toronto is the leading centre for capital markets activity in Canada," says Paul Halpern, dean of the Rotman School. "With this investment, the TSE recognizes that U of T is the ideal setting for the establishment of a capital markets institute: the Rotman School and the Faculty of Law are home to so many of Canada's top academics in finance and law. The University of Toronto Capital Markets Institute will facilitate research in capital market topics and will provide a forum for key decision-makers from the private and public sectors to meet to discuss timely issues in capital markets, and have their deliberations informed by the very best research and ideas internationally."

"These are times of change and challenge in the Canadian economy," says Ronald J. Daniels, dean of the faculty of law. "Now, more than ever before, Canada needs creative policy solutions and a principled examination of the issues coming to bear on our capital markets which, after all, raise the capital to create jobs, build plants, and fund applied research and development. Thanks to this wonderful investment, the University of Toronto will be able to play a leading role in developing new directions and informing future debate."

In addition to the research and teaching activities of the chairs, the institute will provide a forum to encourage close collaboration between experts in law and business, and to advance scholarly initiatives in the area of capital markets. The results will support the needs of government, the financial community and current and future U of T students in business and law.

"U of T's central location, proximity to the centres of Canadian business, and reputation as a top centre for the study of business and law make it the ideal home for an institute for the study of capital markets," says TSE president and CEO Rowland W. Fleming. "We are delighted to be able to fund this important initiative, which will not only benefit current and future generations of students in law and business, but will benefit all Canadians by providing a vital forum for discussing some of the most pressing issues facing our economy."

As one of the leading exchanges in North America, the Toronto Stock Exchange plays a vital role in the Canadian economy, with the TSE 300 Composite Index widely regarded as the national benchmark for Canada's economic performance. Representing more than 80% of the value of shares trading on Canadian exchanges, the TSE trades approximately $1 billion on an average business day.

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