Monthly trading stats for June showed a recovery in volumes and value traded from what’s typically a slow May, with TSX volumes up 6% M/M and 15% Y/Y - normalizing versus April’s near-30% Y/Y jump on liberation day volatility.

The venture exchange was particularly hot, with volumes up 24% M/M and 44% versus last year as Canadian small caps start to get more attention. With increased liquidity and the TSXV up 22% YTD…

… we could see equity financing activity pick up from here. TMX Group (X) would be happy to see it, given financing activity on this exchange has been muted for years.