LSEG-TMX Merger to Deliver Clear and Significant Benefits to Ontario
Exchange CEOs present to Ontario Government Select Committee
TORONTO, March 2 /CNW/ - The merger of TMX Group Inc. and London Stock Exchange Group plc will create opportunity for Canada's financial services industry and firmly establish Toronto as a world financial center, the companies' CEOs told Ontario legislators today.In an appearance before the provincial legislature's select committee studying the proposed merger of the two exchange companies, Tom Kloet and Xavier Rolet spoke at length about the transaction details and rationale.
Mr. Kloet, CEO, TMX Group said:
"The merger strengthens our company's future competitiveness and contributes to the growth and competitiveness of the financial sector in which we operate. It does so without in any way diminishing local regulatory authority. And, in our opinion, it opens a world of opportunity for Canadian public companies of all sizes and for the advisory and business community that supports them. The words "Listed on TSX" and "Listed on TSX Venture Exchange" are spoken with pride by Canadian companies across Canada. These brands are here to stay. The agreement we are here to discuss maintains this pride while opening new horizons for growth. It is an arrangement that makes sense."
Mr. Rolet, CEO, London Stock Exchange Group added:
"We have a clear responsibility to build a quality marketplace, to contribute to Canada's economic well-being, Ontario's reputation and Toronto's success as a world financial centre. In fact, Canada's success, and the future growth and success of TMX Group are critical to the long-term success of the new merged group. It is in our collective best interest to see that all stakeholders affected by this merger benefit and that we all share in the rewards of this transaction… Together with TMX Group, we will create an international group, with deep expertise, undeniable leadership in key sectors and the ability to compete effectively and win on the global stage."
The full text of Mr. Rolet's and Mr. Kloet's remarks may be viewed at www.tmx.com/merger.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Shorcan Energy, Equicom and other TMX Group companies provide trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto with offices in Montreal, Calgary, Vancouver, Houston and London. For more information about TMX Group, visit our website at http://www.tmx.com/.
About London Stock Exchange Group plc
London Stock Exchange Group plc sits at the heart of the world's financial community. LSEG operates a broad range of international equity, bond and derivatives markets, including the London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, LSEG offers international business unrivalled access to Europe's capital markets.
LSEG is a leading developer of high-performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London and with significant operations in Italy and Sri Lanka, LSEG employs approximately 1,500 people. Further information on LSEG can be found at http://www.londonstockexchangegroup.com/