TMX Group said Canada's commissioner of competition expressed "serious concerns" about the likely competitive effects of Maple Group's proposed plan to purchase the owner of the Toronto Stock Exchange.The commissioner has serious concerns about the likely competitive effects of the proposed transactions in the current environment, primarily in connection with equities trading and clearing and settlement services in Canada, the parties said in a statement on Tuesday.Thirteen big-league banks, pension funds and other financial institutions that make up the Maple Group are trying to persuade regulators that the C$3.8 billion ($3.7 billion) plan to buy TMX Group is good for Canada's capital markets.The deal has come under the scrutiny of the powerful securities commissions of Quebec and Ontario as well as two other provincial watchdogs.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X traded higher by 0.22% or $0.1/share to $44.75. In the past year, the shares have traded as low as $34.53 and as high as $45.69. On average, 149802 shares of X.TO exchange hands on a given day and today's volume is recorded at 74274.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI fell by 1.69% or $-0.26/share to $15.09. In the past year, the shares have traded as low as $12.18 and as high as $20.74. On average, 36350 shares of FISI exchange hands on a given day and today's volume is recorded at 25333.
