The Ontario Securities Commission (OSC) must decide if the proposed C$3.1 billion ($3.2 billion) takeover of Canada's chief exchange operator, TMX Group (X.TO), by the London Stock Exchange (LSE.L) is in the public interest. The OSC says the criteria it will use to decide what the public interest is will be the same as it uses to determine whether it will allow an exchange to operate, or "recognize" an exchange. They are as follows: * An exchange is required to have a governance structure with a board of directors that provides for fair and meaningful representation, one of the components of which is appropriate representation of independent directors * An exchange is required to provide for fair access to the services of the exchange. For example, the exchange cannot charge fees that unreasonably condition or limit access to any service provided by the exchange
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