Transportation, Retail and Markets Correspondent, Canada
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May 13, 2011

TMX files with regulators on LSE deal

TORONTO (Reuters) – TMX Group (X.TO: Quote, Profile, Research), the operator of the Toronto Stock Exchange, on Friday reported a 13 percent rise in quarterly profit and said it filed applications with Canadian provincial regulators for approval of its $3 billion (1.85 billion pound) tie-up with the London Stock Exchange (LSE.L: Quote, Profile, Research).

The two exchanges filed with securities commissions in Ontario, Quebec, Alberta and British Columbia. Last month, TMX and LSE filed its application with the federal government under the Investment Canada Act.

May 13, 2011

TMX files with regulators on LSE deal; profit rises

TORONTO (Reuters) – TMX Group, the operator of the Toronto Stock Exchange, on Friday reported a 13 percent rise in quarterly profit and said it filed applications with Canadian provincial regulators for approval of its $3 billion tie-up with the London Stock Exchange.

The two exchanges filed with securities commissions in Ontario, Quebec, Alberta and British Columbia. Last month, TMX and LSE filed its application with the federal government under the Investment Canada Act.

May 10, 2011

TMX to file LSE bid with provinces within weeks-CEO

TORONTO, May 10 (Reuters) – TMX Group Inc (X.TO: Quote, Profile, Research, Stock Buzz) will file
applications within the next few weeks with Canadian provincial
securities regulators seeking approval of a takeover bid from
London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz), TMX Chief Executive Tom Kloet
said on Tuesday.

As well as from securities regulators, the head of Canada’s
largest exchange operator is optimistic about getting the green
light from the federal government and still sees the deal
wrapping up in the fourth quarter, he told Reuters on the
sidelines of the Bloomberg Canada Economic Summit.

May 5, 2011

Canadian economic data flashes mixed signals

TORONTO, May 5 (Reuters) – Canadian economic data flashed
mixed signals on Thursday as the value of Canadian building
permits issued in March soared past expectations, but
purchasing activity in April fell short of forecasts.

Building permit value jumped 17.2 percent from February to
the highest level in almost four years as permits issued for
multifamily dwellings, mainly condominiums, more than doubled,
Statistics Canada said. [ID:nN0796933]

Apr 29, 2011

LSE and TMX start long Canadian merger approval process

TORONTO (Reuters) – The London and Toronto stock exchanges started the clock ticking on Friday for the months-long Canadian government review of a $3 billion tie-up that has already polarized public opinion.

Nearly three months after announcing the deal, to opposition from some banks, politicians and companies, the London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz) and TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) said they filed an application for review under the Investment Canada Act and had talked with provincial securities regulators.

Apr 20, 2011

Toronto exchange’s market share continues to slip

TORONTO, April 20 (Reuters) – The Toronto Stock Exchange
continues to lose market share to smaller alternative trading
systems, according to the latest statistics from the
self-regulatory Investment Industry Regulatory Organization of
Canada (IIROC).

IIROC figures show the TSX, which is owned by TMX Group
(X.TO: Quote, Profile, Research, Stock Buzz), had market share by value of just over 62 percent in
the first quarter of 2011, down from just over 65 percent in
the year-before quarter, and down from just under 64 percent in
the final quarter of 2010.

Apr 17, 2011

Investors see firm TSX profits; wary on costs

TORONTO, April 17 (Reuters) – Canadian companies basking in
the glow of soaring commodity prices are expected to deliver
double-digit profit gains, though many investors enter the
earnings season wary about rising costs.

Canada’s first-quarter earnings season kicks off in force
this week, with soaring bullion, crude oil and copper prices
expected to feed through to the bottom line of the market’s
many resource firms.

Apr 12, 2011

Alpha “dark pool” does not provide fair access-TMX

TORONTO, April 12 (Reuters) – Alpha Group’s new IntraSpread
trading facility does not provide full and fair access for all
market participants, TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) said in a statement on
Tuesday.

The operator of the Toronto Stock Exchange reiterated its
earlier position against Alpha’s new “dark pool”, following the
announcement last Friday that regulators have approved the
system, which will be available for trading before the summer.

Apr 5, 2011

Australia decision a new hurdle for TMX-LSE deal

TORONTO, April 5 (Reuters) – Australia’s veto of a foreign
bid for its main stock exchange will make it easier for
Canadian regulators to block London’s offer for stock exchange
operator TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) as a looming federal election further
politicizes the controversial deal.

But there will be no decision for months on the Canadian
proposal, given that TMX and the London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz)
have yet to submit documentation surrounding the LSE’s $3
billion offer and the government then has 45 to 75 days to
review the papers, with allowances for further extensions.

Apr 4, 2011

TMX gets set to file proposal on takeover by LSE

TORONTO (Reuters) – TMX Group Inc (X.TO: Quote, Profile, Research, Stock Buzz), owner of the Toronto Stock Exchange, will put forward a formal submission to Canadian regulators in the “coming weeks” regarding its proposed takeover by London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz), TMX Chief Executive Tom Kloet said on Monday.

Addressing business leaders in Toronto, Kloet said a shareholder vote on the deal can be expected by midsummer.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for Reuters.com, and an online news editor for Reuters.com, .co.uk and .ca. Life before Reuters included working in China and freelancing in California."
      Joined Reuters:
      2003
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