The head of the Toronto Stock Exchange's main rival questioned on Wednesday what will happen to Canada's strategic exchange assets if the London Stock Exchange's (LSE.L) friendly takeover of TMX Group (X.TO) goes ahead. Alpha Group's chief executive, Jos Schmitt, said a merged LSE-TMX would see the Toronto Stock Exchange's center of gravity shift to London. Schmitt told Ontario lawmakers on the first day of hearings into the merger, that control of TMX assets like the S&P60 and the TMX Clearing House for derivatives should stay in Canada. He suggested either their divestiture before any deal is completed or clarifying regulations surrounding the entities.
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