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Jul 11, 2012

Maple-TMX deal wins final regulatory approvals

TORONTO (Reuters) – The C$3.8 billion ($3.72 billion) acquisition of Canada’s TMX Group cleared its final regulatory hurdles on Wednesday, allowing a financial consortium to take control of all of the country’s major securities exchanges and related businesses.

Concluding a year-long review process, regulators in the provinces of British Columbia and Alberta approved Maple Group’s acquisition of TMX – the operator of the Toronto Stock Exchange and TSX Venture Exchange for small-capitalization stocks.

Jul 11, 2012

Canada’s TMX in talks to buy Direct Edge -sources

NEW YORK/TORONTO, July 11 (Reuters) – TMX Group Inc,
the operator of the Toronto Stock Exchange, is in talks to buy
U.S. stock market operator Direct Edge Holdings LLC, sources
familiar with the matter said on Wednesday.

The deal hinges on TMX closing its own deal to be acquired
by Maple Group, a consortium of Canadian banks, pension funds
and financial firms, one source said.

Jul 6, 2012

Analysis: TMX deal makes life tough in Canada’s markets

TORONTO (Reuters) – Canada’s small stock trading venues will find the struggle to grow even tougher once a made-in-Canada takeover of the operator of the Toronto Stock Exchange gets the final regulatory green light, creating a giant that will dominate the market.

The C$3.8 billion ($3.7 billion) takeover of TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) by the bank-led Maple Group consortium will merge the Toronto exchange with its biggest rival, Alpha, and with the Canadian Depository for Securities, which clears and settles all stock trades in Canada.

Jul 6, 2012

TMX deal makes life tough in Canada’s markets

TORONTO, July 6 (Reuters) – Canada’s small stock trading
venues will find the struggle to grow even tougher once a
made-in-Canada takeover of the operator of the Toronto Stock
Exchange gets the final regulatory green light, creating a giant
that will dominate the market.

The C$3.8 billion ($3.7 billion) takeover of TMX Group
(X.TO: Quote, Profile, Research) by the bank-led Maple Group consortium will merge the
Toronto exchange with its biggest rival, Alpha, and with the
Canadian Depository for Securities, which clears and settles all
stock trades in Canada.

Jul 4, 2012

Canada’s top regulators approve TMX takeover

TORONTO (Reuters) – Canada’s top regulators approved the takeover of the country’s biggest stock exchange operator by a group of Canadian financial firms on Wednesday, pushing a protracted process tantalizingly close to the finish line.

The Ontario Securities Commission and Canada’s Competition Bureau both okayed the takeover of TMX Group by Maple Group – a consortium of Canada’s largest banks, insurers and pension funds – removing two big hurdles to a deal that now only needs the approval of two provincial regulators.

Jul 4, 2012

OSC, Canada antitrust authority approve TMX takeover

TORONTO, July 4 (Reuters) – Ontario’ securities regulator
and Canada’s Competition Bureau approved the takeover of
Canada’s biggest stock exchange operator by a group of domestic
financial institutions on Wednesday, bringing what has been a
protracted process close to final approval.

The C$3.8 billion ($3.75 billion) takeover of TMX Group
by the Maple Group consortium now only requires the
approval of two provincial regulators. The deal will create a
new entity that combines the Toronto Stock Exchange with its
biggest rival, Alpha Group, and with the Canadian Depository for
Securities clearing house.

Jun 27, 2012

Canada home resale prices hit record, growth slows

TORONTO, June 27 (Reuters) – Canadian home resale prices
rose in May from April, hitting record highs for the second
month in a row, but the pace of growth on an annual basis
continued to slow, the Teranet-National Bank Composite House
Price Index showed on Wednesday.

Ten of the 11 metropolitan markets tracked by the index were
higher and one was flat. It was the first time in nearly a year
that none of the 11 markets declined.

Jun 26, 2012

High-speed trades make up fifth of Canada market

TORONTO, June 26 (Reuters) – High-frequency trading, using
lightning-fast algorithms to turn profits, represents a fifth of
all activity on the Toronto Stock Exchange and other Canadian
trading systems, according to data released by regulators.

Such trades, based on a strategy that floods the system with
buy and sell orders without executing all of them, make up 11
percent of the overall Canadian market, preliminary data from
the Investment Industry Regulatory Organization of Canada showed
on Tuesday.

Jun 22, 2012

Canadian home prices climbed 5.2 pct in May

TORONTO, June 22 (Reuters) – Canadian home prices climbed
5.2 percent in May from a year earlier, with Toronto leading all
major markets with a 7.9 percent gain, an industry group said on
Friday, highlighting a housing boom that has become a concern
for policymakers.

The Canadian Real Estate Association (CREA) released the
data a day after the federal government tightened rules for
borrowers and mortgage lenders in its fourth move to cool down
the country’s red-hot property market. Ottawa wants to put the
brakes on home buying and deflate a possible housing bubble
before it pops.

Jun 14, 2012

Canada’s Alpha sees its future as Nasdaq of north

TORONTO, June 14 (Reuters) – Canada’s second-biggest stock
trading system, Alpha Group, wants to reinvent itself as the
Nasdaq of the north, offering small technology companies access
to a deeper pool of public funding as the tech sector seeks to
emerge from a decade of drift.

The strategy aims to carve out a clear identity for Alpha
even as it awaits approval of a grand plan that would fold it
under the same corporate umbrella as TMX Group – the
operator of the Toronto Stock Exchange, the small-cap TSX
Venture Exchange and other Canadian trading venues.

    • About Jennifer

      "Jennifer Kwan is a Toronto-based reporter on the market news and treasury team, and covers a broad mix of stories related to trading, exchanges and regulation. Previously worked as an editor for the company's online newsroom. Before joining Reuters, she worked at the Canadian Press, as well as the Toronto Star and Yukon News newspapers."
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