TMX Group takes stake in EDX London
May 07 2009 - 8:10AM
UK Regulatory
TIDMLSE TIDMLSEB
RNS Number : 8678R
London Stock Exchange Group PLC
07 May 2009
7 May 2009
TMX GROUP to take 19.9 per cent stake in edx London
London Stock Exchange Group and TMX Group Inc. (TMX) today cemented their
recently announced strategic partnership, with TMX agreeing to take a 19.9 per
cent stake in EDX London Limited, the London Stock Exchange's equity
derivatives business.
Starting later this year, the EDX London markets will be migrated to the SOLA
Trading platform, a leading derivatives trading technology developed by TMX's
Montréal Exchange, which EDX London will use under licence. Additionally, the
two groups will work together to develop EDX London.
Thomas Kloet, TMX Chief Executive Officer, said:
"Acquiring this equity position in EDX London opens an exciting new door for us
to participate in the growth and development of the European derivatives market,
which adds a new geographic element to TMX's diversification strategy."
Clara Furse, Chief Executive of London Stock Exchange Group, said:
"We are delighted to have a new partner in EDX London. TMX's decision to take a
stake in the business is a tribute to EDX London's strong growth and potential,
as demonstrated by the striking success of the Russian derivatives service."
TMX acquired its stake for a total consideration of GBP4.35 million or
approximately Canadian $7.7 million, invested in cash into EDX London. For the
year to 31 March 2008, EDX London had gross assets of approximately GBP17.7
million and profit before tax of approximately GBP5.1 million.
- End -
For further information, please contact:
+----------------------------------------+----------------------------------------+
| London Stock Exchange Group | |
+----------------------------------------+----------------------------------------+
| Catherine Mattison | +44 (0)20 7797 1222 |
+----------------------------------------+----------------------------------------+
| | |
+----------------------------------------+----------------------------------------+
| TMX Group | |
+----------------------------------------+----------------------------------------+
| Carolyn Quick | + 1-416-947-4597 |
+----------------------------------------+----------------------------------------+
| Lise Tessier | + 1-514-871-2424 x 412 |
+----------------------------------------+----------------------------------------+
Notes to Editors
1. Created in 2003, EDX London is the London Stock Exchange's equity derivatives
market providing the international investor community a gateway to Scandinavian
and Russian International Order Book derivatives. The market, which is now
19.9 per cent owned by TMX Group, and the remaining 80.1 per cent by London
Stock Exchange Group has over 80 member firms, including the leading European
and global investment banks and derivatives firms. Trades are cleared through
LCH.Clearnet, and the exchange offers a cleared-only service for IOB equity
derivatives.
About London Stock Exchange Group:
London Stock Exchange Group is Europe's leading diversified exchange business.
It operates Europe's largest and most liquid equity market, holds the number one
position in trading ETFs and securitised derivatives, and through its interest
in MTS, is the leading platform for the trading of fixed income products.
The London Stock Exchange itself is the world's most international exchange with
nearly 700 overseas companies from over 70 countries on its markets. It has
consolidated this position in the last three calendar years, having attracted
218 international companies which raised over GBP32 billion between them. These
figures include international companies on AIM, the London Stock Exchange's
growth market, which has grown to become the world's most successful market for
small and medium sized enterprises with over 1500 companies at the end of 2008.
Following its merger with Borsa Italiana in 2007, London Stock Exchange Group
also now offers post-trade services such as netting, clearing and settlement on
an efficient and competitive basis, and a comprehensive range of European bond
trading services through MTS.
About TMX Group:
TMX Group's key subsidiaries operate cash and derivative markets for multiple
asset classes including equities, fixed income and energy. Toronto Stock
Exchange, TSX Venture Exchange, Montreal Exchange, Natural Gas Exchange, Boston
Options Exchange (BOX), Shorcan, Equicom and other TMX Group companies provide
trading markets, clearing facilities, data products and other services to the
global financial community. TMX Group is headquartered in Toronto with offices
in Montreal, Calgary and Vancouver. For more information about TMX Group, visit
our website at www.tsx.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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