TMX Group posts Q1 results

Commenting on Q1/13, Thomas Kloet, Chief Executive Officer of TMX Group said, "Significant progress was made in the first quarter of 2013 to advance our strategic business priorities, expand our product portfolio and broaden our customer base.  This activity took place against a backdrop of sustained market uncertainty, which resulted in lower new listings, financings and equity trading volumes."

"The integration of CDS and Alpha continues to be an important focus and we are on track to achieve our stated cost synergy targets.  In addition, we recently concluded the acquisition of Equity Financial's transfer agency and corporate trust services business to both further diversify our revenue base and broaden our portfolio of listed company services.  On the Information Services side of the business, along with FTSE, we recently launched FTSE TMX Global Debt Capital Markets.  This provides us with the opportunity to expand our bond index business globally with one of the world's leading index brands."

Michael Ptasznik, Chief Financial Officer of TMX Group said, "Our revenue in Q1/13 declined by 5% from the previous quarter primarily due to a decrease in both initial and additional listing fees. The revenue reduction was somewhat offset by an increase in cash markets trading and clearing revenue. Operating expenses increased sequentially primarily due to certain items which reduced compensation and benefits expenses in Q4/12 and higher organizational transition costs in Q1/13. Our earnings per share for Q1/13 improved over Q4/12 largely due to lower Maple transaction and integration costs and a tax adjustment relating to the sale of PC-Bond."

Important Information

TMX Group completed the acquisition of TMX Group Inc. on September 14, 2012 and the acquisitions of The Canadian Depository for Securities Limited (CDS) and Alpha Trading Systems Inc. and Alpha Trading Systems Limited Partnership (collectively, Alpha) on August 1, 2012 (collectively, the Maple Transaction). The TMX Group condensed consolidated interim financial statements (the financial statements) have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board and include the operating results of TMX Group Inc., CDS and Alpha. Comparative financial statements for, and as at, the quarter ended March 31, 2012 include TMX Group Limited only.

Maple Group Acquisition Corporation (Maple), as TMX Group was then named was an acquisition corporation formed solely for the purpose of pursuing the Maple Transaction. The most significant aspect of the Maple Transaction was the purchase of TMX Group Inc., which was a publicly traded company. Prior to the completion of the acquisitions of CDS and Alpha on August 1, 2012 and the initial take up of 80% of the common shares of TMX Group Inc. on July 31, 2012 under the Maple  offer, Maple had no material assets and no history of earnings and had not commenced commercial operations. The approach taken in this press release is intended to provide readers with a more complete view of the operating performance of TMX Group. Therefore, TMX Group's revenue, operating expenses and net income attributable to non-controlling interests for the quarter ended March 31, 2013 are compared with TMX Group Inc. for the quarter ended March 31, 2012. Management believes that this is the most meaningful presentation for the purpose of discussion of revenue, operating expenses and net income attributable to non-controlling interests.

Three Months Ended March 31, 2013 Compared With Three Months Ended March 31, 2012

The information in the chart below reflects financial information for TMX Group Limited for the three months ended March 31, 2013, including the operating results of TMX Group Inc., CDS and Alpha and their respective subsidiaries. The comparative financial information for the three months ended March 31, 2012 includes only the accounts of TMX Group Limited.

For the reasons outlined in the section above, management believes that the historical information for TMX Group Limited in this table will be of limited use to investors and other users of our financial information in evaluating the operating performance of our company for the comparative periods.

Summary of Financial Information

(in millions of dollars, except per share amounts) (unaudited)

__________________________ Earnings (loss) per share information is based on net income attributable to TMX Group shareholders.

Non-IFRS Financial Measure