The London Stock Exchange (LSE.L) and Canada's TMX Group (X.TO) posted strong financial results on Friday as they filed their $3 billion merger deal with the Canadian authorities. The exchanges said on Friday they had formally applied to have their merger approved by securities authorities in Ontario, Quebec, Alberta and British Columbia, all of which must pass the merger. "We recently initiated the approval process and look forward to working with the various federal and provincial authorities to achieve the necessary approvals," TMX Chief Executive Tom Kloet said in a statement. The British exchange reported 2010 profit up 22 percent to 341 million pounds ($555.5 million), compared with 280 million in 2009 and well above a forecast of 314 million in a poll of 14 analysts.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X fell by 1.56% or $-0.71/share to $44.89. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 10289500 shares of X exchange hands on a given day and today's volume is recorded at 4871077.
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