Tom Kloet is retiring as head of Canada’s largest stock exchange almost three years after his plan to merge with the London bourse was foiled, leaving the exchange vulnerable to a commodities slump that sliced trading volumes and its share price.
TMX Group Inc., owner of the Toronto Stock Exchange, should seek takeovers of global competitors such as CBOE Holdings Inc. after its C$3.73 billion ($3.68 billion) sale to a Canadian investor group cleared its biggest regulatory hurdles, investor Thomas Caldwell said.
Jeffrey Sprecher, who built the second-largest U.S. futures market, will likely focus on reducing costs after acquiring NYSE Euronext even if that means separating the 220-year-old New York Stock Exchange.
Securities regulators raised objections to Aequitas Innovations Inc.’s proposal for a new Canadian stock exchange, dealing a blow to its attempt to start a venue that would curb high-speed trading practices. The group will file a revised plan.
CI Financial Corp. Executive Chairman William Holland, whose firm is the largest shareholder of TMX Group Inc., endorsed London Stock Exchange Group Plc’s C$3.3 billion ($3.35 billion) takeover offer for the Toronto Stock Exchange owner.
For CME Group Inc. to improve the exchange industry’s worst profit outlook, the owner of the Chicago Mercantile Exchange needs only to look across the street to CBOE Holdings Inc., home of the biggest U.S. options market.