Montréal Exchange and TSX Group (TSX) announced a long-anticipated combination of the two exchanges on 11 December.
Under the deal, which is due to close in mid-February, TSX will pay $1.3bn in cash and stock for MX, bringing together Canadian stock, equity options and futures under one company.
Montreal chief executive Luc Bertrand, who will stay on as deputy CEO of the newly named TMX Group, said the decision to bring the two exchanges together stems from the global trend to consolidate.
“The reality is that in our space globalisation is...