TMX Group Inc. and Maple Group Acquisition Corporation (Maple Group) today appeared at the public hearings on the subject of their proposed transaction, convened by the Autorité des marchés financiers (AMF), which began today in Montréal.
The joint presentation included remarks on behalf of Maple Group by: Luc Bertrand, Vice-Chairman, National Bank Financial and Marie Giguère, Executive Vice President, Legal Affairs and Secretariat, Caisse de dépôt et placement du Québec. Appearing on behalf of TMX Group were Tom Kloet, Chief Executive Officer, TMX Group and Alain Miquelon, President and Chief Executive Officer, Montréal Exchange.
Mr. Bertrand said:
“It is our belief that an integrated exchange and clearing group across the full spectrum of equity and derivative products offers significant efficiencies, creates the right conditions to drive increased economic activity and international investment in Canada and contributes to the ongoing stability of Canada’s financial system.
“What we have proposed, with the support of TMX Group, is a plan that makes sense –a plan that serves all market participants and Canada’s capital markets overall. And, we believe, a plan that has tremendous potential value to Montreal and Quebec’s financial community.”
Mr. Kloet, CEO, TMX Group added:
“Through this agreement, TMX Group’s ability to execute a business plan focused on growth is improved and accelerated, and our company’s global position is strengthened even further. We believe that this proposal allows us to move forward in a way that benefits our stakeholders across Canada and here in Quebec.
“Through carefully crafted governance provisions, strong undertakings to regulators, and an independent Board, we believe we have a structure that will accelerate growth while protecting the value, service and benefits that we offer today.”The full presentation may be viewed at www.tmx.com/maple.
