Canadian exchange operator Aequitas Exchange is to begin a campaign of lobbying the Canadian regulator and market participants after the Canadian Competition Bureau dropped an investigation into its claims that rival exchange TMX Group engaged in anti-competitive behavior by using its contracts with dealer firms to block Aequitas from creating a data product that would provide a cheaper, alternative consolidated tape of Canadian market data.
In 2015, Aequitas contacted the Competition Bureau, accusing TMX of impeding its attempts to create and launch a lower-cost consolidated feed, dubbed CMV Connect, which would collect "private" market data that is provided by dealers and investment firms to marketplaces, aggregate this data with public data from Aequitas' NEO Exchange, and distribute it back to market participants at a lower price than...
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