TMX Mulls Clearing House Control

Exchange operator TMX Group may look to gain control of Canada’s main equities clearinghouse.

Exchange operator TMX Group may look to gain control of Canada’s main equities clearinghouse, Financial Times reports. The move will come in case a consortium of domestic banks and pension funds is unable to acquire the operator of the Toronto and Montreal exchanges. TMX owns Canadian Derivatives Clearing Corp. (CDCC) and holds an 18 per cent stake in Canadian Depository Services (CDS), while Canadian banks and an investment industry regulator hold the balance. The 13-member Maple consortium is proposing to merge the equities clearinghouse with Montreal-based CDCC.

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