It is very much that the TSX Venture is the original form of crowdfunding. Indeed today, with over 1,670 listed companies, our average market cap is roughly $25 million and the average financing size is between $3 million and $4 million. This is predominantly driven by retail Canadian investors, and the companies that are listed with us are not the big multi-billion dollar organizations that have a lot of access to an internal general counsel's office to manage public filings.
When we look at what would be helpful for venture companies, the idea of optional semi-annual reporting, being able to streamline their public company disclosure obligations and even just reducing some of the duplicative nature of MD and A in financial statements and your annual information forms would reduce the burden on our existing public companies.