Something business leaders have to face from time to time is convincing regulators-typically politicians-to permit their larger plans to go forward.Thomas Kloet,CEO of the TMX Group,parent of the Toronto Stock Exchange,thinks they will get the deal done.The Ontario provincial government,as well as other provinces and the federal government in Ottawa,are scrutinizing the proposed merger of the Toronto and London stock exchanges.
I understand there's a political element to this,Mr.Kloet said.There are gonna be multiple questions.We think we have a very compelling story to tell.It's good for Canadian investors and capital formation.
Ours is a merger of equals,with shared government and management nearly 50/50.You're seeing a consolidation within the space.We see it as a chance to offer low cost services to our clients.We think we'll compete very favorably,with the most listed issues.
I believe we're positioned for further growth with this consolidation.We have an excellent business strategy.This combination accelerates our strategy and increases its possibility for success,Mr.Kloet maintained.
NYSE/Euronext and Deutsche Boerse are also attempting to merge,and the NASDAQ/OMX Group is evaluating its own options.
NYSE/Euronext(NYX),NASDAQ/OMX Group(NDAQ)
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