Canadian exchanges merge for strength

Author: Lynann Butkiewicz | Published: 13 Dec 2007

The Montreal and Toronto stock exchanges have proposed a $1.3 billion merger, creating the new entity TMX Group. While this hasn't surprised many people, it will make the two exchanges more efficient and more able to ward off bidders.

Before the proposed takeover, the two groups were responsible for different functions. The Toronto Exchange dealt with listings such...