TSX, MX to Form New Canadian Exchange
"The rationale here is bringing together two complementary exchanges with virtually no revenue overlap," says Richard Nesbitt, CEO for TSX Group.
The bourse will list, trade, clear and offer market data for both cash and derivatives markets, giving the new venture four principal sources of revenue: trading, issuer services, market data and derivatives clearing, according to officials.
MX shareholders will vote for the merger on Feb. 13, 2008, while TSX Group shareholders will hold their vote
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