Proposed Exchanges Merger Recognizes Toronto's Place as Global Financial Hub: Toronto Financial Services Alliance

TORONTO, Feb. 9 /CNW/ - Today's historic announcement of the proposed merger between two of the world's leading stock exchanges, TMX Group Inc. (TMX) and London Stock Exchange Group plc (LSEG), reinforces Toronto's growing position as a global financial player, said the Toronto Financial Services Alliance (TFSA) in a statement released today. TFSA is a public-private sector initiative working to grow Toronto region as a global financial services hub.   

"Toronto region is the world's leader in mining, metals and energy financing and trading with a critical mass of expertise and talent to support that leadership position. If it is approved and the potential synergies are realized, the proposed merger could provide an opportunity for TMX and our financial sector to step out on the global stage with that leadership strengthened," said Janet Ecker, president of the Toronto Financial Services Alliance.

TMX has been a major flag bearer for the Toronto financial services story abroad and we are encouraged by the potential opportunities of the proposed merger for both Canadians and Canadian companies, Ms. Ecker added.

"Clearly this proposed transaction will be closely examined by governments and regulators to ensure that Canadian priorities are respected and Canadian benefits achieved.  We are encouraged that both boards have taken a unanimous position in favour of the proposed merger and by the obvious work of each exchange's leadership to consider the mutual benefits," she said.  "We want to ensure that we retain what has been collectively built here.

"The financial services sector is critical to the economic success of this region, the province and Canada. With over 300,000 jobs dependent on our financial cluster here, it is imperative that governments and our financial players continue to work together to grow our Canadian financial leadership on the global stage," Ms. Ecker said. "Additionally LSEG's desire to merge with TMX demonstrates their recognition of our deep talent pool within financial services, particularly in the area of metals, mining, energy and clean technology."

About Toronto Financial Services Alliance

The Toronto Financial Services Alliance is a growing public-private partnership dedicated to increasing Toronto's role as a global financial services hub. Established in 2001 by the City of Toronto in partnership with the financial industry, TFSA works on behalf of the entire financial cluster, including its business and educational support sectors. With both the federal and provincial governments now joining the partnership, TFSA has established the Global Risk Institute in Financial Services to leverage the sector's global reputation for stability, as well as the Centre of Excellence in Financial Services Education to capitalize on Toronto region's human capital advantages.

SOURCE Toronto Financial Services Alliance

For further information:

Janet Ecker, President, Toronto Financial Services Alliance
(416) 933-6784


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