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.
TMX Group Inc. , owner of the Toronto Stock Exchange, plans to start an alternative trading platform to compete with Alpha Trading Systems and other companies that have taken market share from Canada’s biggest bourse.
TMX Group Inc. , owner of the Toronto Stock Exchange, said profit rose for a second straight quarter on a surge in derivatives trading on its Montreal bourse. The stock had its biggest decline in almost six months after earnings missed estimates.
Aequitas Innovations Inc. said BCE Inc. and the Ontario Municipal Employees Retirement System have joined a group including Royal Bank of Canada and Barclays Plc as investors developing an alternate exchange in Canada.
TMX Group Inc. will focus on integrating recent acquisitions before seeking another deal, Chief Executive Officer Thomas Kloet said, the latest indication that no takeover of Direct Edge Holdings LLC is imminent.