GMP Capital Inc. Canada’s second- largest non-bank brokerage, is poised to announce more cost cuts as a 25 percent drop in trading on the country’s two main stock exchanges leads to a third-straight quarter of per-share losses.
TMX Group Ltd. is the worst- performing exchange stock in North America this year, as a rout in global commodity prices cuts equity trading volume and a bank-led competitor prepares to enter the business.
Michael England, the chief executive officer of Geo Minerals Ltd. , was surprised when Canada’s junior stock exchange offered him the ticker symbol GM before his mining company went public in 2007. Now he says the “other” GM wants it back.
TMX Group Inc. rose to its highest level since June after Quebec’s financial markets authority said it plans to approve the proposed C$3.73 billion ($3.76 billion) takeover of the exchange operator by Maple Group Acquisition Inc., a group of pension funds and banks.