26 September 2017
visit www.ncr.com

TSX and Montréal Exchange complete merger

01 May 2008  |  2289 views  |  0 Source: TSX

TSX Group Inc. and Montréal Exchange Inc. (MX) announced today the completion of their business combination to create TMX Group Inc.

"We are pleased to have completed this transaction," said Michael Ptasznik, Interim Co-CEO of TSX Group. "Our new company will redefine the Canadian capital markets and strengthen its global positioning.

Luc Bertrand, President and CEO of MX said, "We are thrilled to be forming TMX Group. We are building an integrated Canadian exchange that brings together cash and derivatives trading for the first time. We seek distinctive positioning in the exchange space."

Under the combination agreement, TSX Group has added five Quebec resident directors to its Board. They are Luc Bertrand, Denyse Chicoyne, Carmand Normand, Jean Turmel and Laurent Verreault.

Mr. Bertrand today was appointed Deputy CEO of TSX Group Inc. He remains as President and CEO of MX.

The purchase price was satisfied with the issue of approximately 15,316,613 shares of TSX Group Inc. and the payment of $428.2 million to MX shareholders. MX shares will be delisted at the earliest at the close of business on May 2, 2008. Trading in shares of the new group continues under the name TSX Group (TSX:X). TSX Group is expected to change its name to TMX Group Inc. on or about June 11, 2008, following receipt of TSX Group shareholder approval.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.vasco.comvisit www.ncr.com

Top topics

Most viewed Most shared
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
12126 views comments | 16 tweets | 30 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8811 views comments | 34 tweets | 46 linkedin
hands typing furiouslyBlockchain is a new way of thinking?
7524 views 2 | 10 tweets | 1 linkedin
German central bank flags DLT weaknessesGerman central bank flags DLT weaknesses
7245 views comments | 17 tweets | 19 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job