RBC, Barclays among backers for new stock market to rival TSX
Abstract: TORONTO -- Royal Bank of Canada (TSX:RY), and several major financial companies are planning to set up a new stock market they say will provide meaningful competition to TMX Group (TSX:X).
The group behind Aequitas Innovations Inc. says it's in the midst of filing for regulatory approval at the end of this year and,if given the green light, the exchange could be up and running by late 2014.
The plan has been in the works since last fall.
In addition to RBC, which is Canada's largest commercial bank, the project is being backed by a group of major financial players including mutual fund operators CI Investments Inc. (TSX:CIX) and IGM Financial Inc. (TSX:IGM), Canadian pension fund PSP Investments and the U.K.-based Barclays.
Read more:
http://www.ctvnews.ca/business/rbc-barclays-among-backers-for-new-stock-market-to-rival-tsx-1.1340616#ixzz2XH11vQcmRead more:
http://www.ctvnews.ca/business/rbc-barclays-among-backers-for-new-stock-market-to-rival-tsx-1.1340616#ixzz2XH0tsuAf
