Financial Services

Canada has one of the strongest financial services sectors in the world, comprised of banks, trust and loan companies, insurance companies, credit unions, securities dealers, finance and leasing companies, pension fund managers, mutual fund companies and independent insurance agents and brokers. The Canadian banking system was ranked the soundest in the world by the World Economic Forum for seven years in a row.Footnote 1

“ We are thrilled to be part of Kitchener-Waterloo’s thriving and talented tech community… We’re excited by how much more we can do to empower local sellers by establishing a Square office in Kitchener and deepening our commitment to the country. ”

Demetrios Marantis, Head, International Policy and Regulatory Affairs at Square

  • In 2012, Toronto Stock Exchange and TSX Venture Exchange were, for a fourth consecutive year, 1st among global exchanges in terms of the number of new listings, according to data from the World Federation of Exchanges.Footnote 2
  • Canada’s financial services sector is built on a strong foundation of regulatory frameworks and the whole financial sector is subject to annual review by the Bank of Canada.
  • Canada’s cost environment for professional services is extremely advantageous: international financial-services firms typically save 17.8% on total costs relative to their U.S.-based counterparts.Footnote 3

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Footnotes

Footnote 1

World Economic Forum. The Global Competitiveness Report 2014-2015,/em>.

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Footnote 2

TMX Group Limited. TMX Group Equity Exchanges Ranked First in the World for Number of New Listings in 2012, Third in the World for Equity Capital Raised, 2013

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Footnote 3

KPMG. Competitive Alternatives Report, 2014.

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