Montréal Exchange chief rejects Toronto merger or acquisition

Montréal Exchange's (ME) top executive said the exchange has no interest in a merger or acquisition with its rival Toronto Stock Exchange (TSX).

Luc Bertrand, president and CEO of ME, has been fending off rumours of a tie-up since late March, when TSX chief executive officer Richard Nesbitt declared plans to launch cash derivatives to compete with ME once the non-compete agreement between the two markets expires in 2009  (see FO Week Vol 10 No...