Toronto Stock Exchange (TSX) CEO Richard Nesbitt has told an audience at International Finance Club of Montréal that his exchange will be making a decision by the end of this year as to how it will plan the long-term addition of financial derivatives to its product roster.
Nesbitt reiterated TSX's position that unless a merger can be forged with Montréal Exchange (MX), it will challenge MX for Canada's derivatives business after a non-compete clause between the exchanges expires in 2009.
However, the response from MX has been frosty with CEO Luc Bertrand saying in reports that Nesbitt's ideology was founded on "a false premise".
This was not the first time TSX has made overtures...