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by Colin Packham, Sydney
Toronto Stock Exchange (TSX) has been forced to pay $15.2m to International Securities Exchange (ISE) in order to cancel its DEX initiative - a new Canadian derivatives exchange which TSX had planned to launch...
"For exchange-traded derivative markets, the monopoly of middle and back office providers is likely to be challenged. Historically, the three incumbent providers have been largely unchallenged due to widely held fears of ‘migration risk’."
Clive Furness, MD, Contango Markets