Toronto Exchange Takes Arca Stake
EXCHANGE TECHNOLOGIES
NEW YORK--The Toronto Stock Exchange (TSX) has long desired to move into the US market and to facilitate cross-border trading. The TSX Group's purchase of 4.85 percent of Archipelago (Arca) is a telling step toward that goal, observers say.
The stake sought by the holding company for TSX will come from a subsidiary of the National Broadcasting Co. (NBC), officials say. The purchase price won't be revealed until Q3 2003.
There are several carrots for the TSX in buying into the Chicago-based Arca.
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