Candid Conversations for Financial Markets

Flow-through shares are a uniquely Canadian financing mechanism at the intersection of tax policy, capital formation, and resource strategy.

This episode will provide a focused perspective on the funding gap they were designed to solve and their ability mobilize capital for critical minerals including rare earths.

Guest

Geoff Clarke
Partner, Miller Thomson LLP

Why do some exchanges consistently attract more listings while others struggle to get noticed?

In this episode we explore:

• What truly shapes the frequency and size of IPOs globally.
• How policymakers, regulators, and exchanges can create conditions that boost listings.
• Practical lessons for market participants navigating today’s and tomorrow’s capital markets.

Guest

Dr. Pedro Gurrola-Perez
Head of Research, The World Federation of Exchanges Ltd.

Prediction markets are no longer on the fringes — they are moving towards the financial mainstream. Platforms such as Kalshi and Polymarket have experienced rapid growth by allowing investors to buy and sell event contracts tied to real-world outcomes — elections, policy decisions, inflation prints, regulatory rulings, even championship games — turning uncertainty into a marketable asset.

In the United States, oversight by the Commodity Futures Trading Commission has helped provide regulatory legitimacy to a space once viewed as a speculative novelty. Meanwhile, major exchange operators — including CME Group, Cboe, and Intercontinental Exchange — are exploring or supporting prediction-based products. Brokerage platforms such as Interactive Brokers and Robinhood are also expanding access and infrastructure, while several asset managers have filed for exchange-traded funds designed to provide direct exposure to election-related prediction markets.

Research from the U.S. Federal Reserve System has further concluded that prediction markets can serve as a valuable complement to existing forecast tools in both research and policy settings.

In Canada, while interest in event-based markets is growing, the ecosystem is still at an earlier stage of commercial and policy development compared with the United States.

The podcast will explore what the rise of prediction markets could mean for the future of financial markets.

Stablecoins are growing fast — but is Canada ready? In this episode of Candid Conversations for Financial Markets, CCFIMPresident and CEO Laura Paglia is joined by Dr. Andreas Veneris, Professor of Finance at the University of Toronto and co-founder of the LedgerHub at Rotman.

Market data is no longer just a by-product — it’s become one of the most expensive necessities in Canadian capital markets. In this episode of Candid Conversations for Financial Markets, CFFiM President and CEO Laura Paglia is joined by R. Tee Williams, a global expert in market structure and data pricing, to break down the tangled costs behind something as simple as a stock quote.

In Episode 5 (Part 2) of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia continues her discussion with Senator Colin Deacon on how to rebuild Canada’s competitiveness. This half focuses on real-world solutions: how Canada can strengthen its innovation ecosystem, attract domestic investment, support entrepreneurship, and modernize its regulatory framework.

In Episode 4 (Part 1) of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia sits down with Senator Colin Deacon to discuss why Canada's economy is losing ground in global competitiveness. Senator Deacon outlines the historic policy decisions, regulatory burdens, and complacency that have led to declining productivity and weakened innovation.

How is Canada positioned in the global race for energy and clean tech innovation? In Episode 2 of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia speaks with Professor Ari Pandes (University of Calgary) about the future of Canada’s oil & gas sector, clean tech growth, and energy market dynamics between Canada and the U.S.

Canada’s public equity markets are at a turning point. In this premiere episode of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia sits down with Thomas Kalafatis, Managing Partner of Hullwright Advisors, to examine the dramatic decline in TSX listings—down 50% since 2008—and what’s behind this hollowing out of the market.