20 April 2018

TMX takes stake in LSE's equity derivatives business

07 May 2009  |  3226 views  |  0 Source: London Stock Exchange

London Stock Exchange Group and TMX Group (TMX) today cemented their recently announced strategic partnership, with TMX agreeing to take a 19.9 per cent stake in EDX London Limited, the London Stock Exchange's equity derivatives business.

Starting later this year, the EDX London markets will be migrated to the SOLA Trading platform, a leading derivatives trading technology developed by TMX's Montréal Exchange, which EDX London will use under licence. Additionally, the two groups will work together to develop EDX London.

Thomas Kloet, TMX Chief Executive Officer, said: "Acquiring this equity position in EDX London opens an exciting new door for us to participate in the growth and development of the European derivatives market, which adds a new geographic element to TMX's diversification strategy."

Clara Furse, Chief Executive of London Stock Exchange Group, said: "We are delighted to have a new partner in EDX London. TMX's decision to take a stake in the business is a tribute to EDX London's strong growth and potential, as demonstrated by the striking success of the Russian derivatives service."

TMX acquired its stake for a total consideration of £4.35 million or approximately Canadian $7.7 million, invested in cash into EDX London. For the year to 31 March 2008, EDX London had gross assets of approximately £17.7 million and profit before tax of approximately £5.1 million.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.nextgenbanking.co.ukVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
10824 views comments | 1 tweets | 2 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
9357 views comments | 14 tweets | 19 linkedin
Westpac and CommBank hit back at Aus Open Banking plansWestpac and CommBank hit back at Aus Open...
8547 views comments | 9 tweets | 8 linkedin
Barclays Bank sets up tech venture unitBarclays Bank sets up tech venture unit
8129 views comments | 16 tweets | 22 linkedin

Featured job

to $120K base, 200K ote, benefits
New York City, NY - USA

Find your next job