TMX Group Ltd.’s control of Canada’s capital markets is under assault from several nimbler rivals striving to knock the country’s incumbent equity exchange operator off its tall perch on Bay Street. And now, a seasoned and deep-pocketed competitor in the U.S. has finalized its plans to expand north of the border.
Nasdaq Inc. announced Tuesday that it has agreed to purchase Chi-X Canada, a venue registered as an alternative trading system where securities that are listed on exchanges can be bought and sold, for an undisclosed sum.
Nasdaq’s foray north via Chi-X “intensifies competition that had already been stepped up with the recent launch of Aequitas,” a new stock exchange, said National Bank Financial analyst Shubha Khan.
Christina Pellegrini – Financial Post – December 8, 2015.
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