Canadian Competition Bureau Drops TMX Probe

The Bureau claims Aequitas would have been unlikely to be able to create a competing product, despite TMX's restrictions.


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 de

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