Aequitas Vows to Continue Fight for Canadian Tape After Competition Bureau Drops TMX Probe
Aequitas CEO Jos Schmitt says the exchange will lobby regulators and market participants about practices that it says damage competition and investors' trading.
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 existing alternatives. Specifically, Aequitas alleged that TMX's market data agreements with
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