Proposed acquisition of TMX Group by Maple Group Acquisition Corporation - AMF issues certain decisions and launches consultation on CDS
Organization
Montréal - The Autorité des marchés financiers (the "AMF") is today publishing certain decisions related to the transaction proposed by Maple Group Acquisition Corporation ("Maple") to acquire TMX Group Inc. ("TMX Group").
On March 15, 2012, the AMF announced its intention to approve Maple's acquisition of TMX Group, based on information available to date.
The AMF took into account the comments made as part of the public consultation held in the fall of 2011 and studied the various issues raised by the proposed transaction, notably with respect to corporate governance, market access, fees, the framework for Maple's proposed operations and the continuity of derivatives operations in Québec.
The conditions that the AMF intends to impose on Maple and its subsidiaries adequately address these issues. These conditions, which are complementary to the current legislative and regulatory framework, are incorporated into the decisions that the AMF is issuing today and presented in detail in a Notice of Decisions and Public Consultation (pdf - 2 MB)
This link will open in a new windowUpdated on May 3, 2012Notice of Decisions and Public Consultation - Application related to Proposed Acquisition by Maple Group Acquisition Corporation in respect of TMX Group Inc. and Proposed Subsequent Acquisitions of Alpha Trading Systems Limited Partnership, Alpha Trading Systems Inc. and The Canadian Depository for Securities Limited posted on its website.
Consultation on CDS
In response to the comments conveyed by the AMF and participants in the consultation held last fall, Maple has made changes to its original application with respect to its proposed acquisition of The Canadian Depository for Securities Limited and, indirectly, CDS Clearing and Depository Services Inc. (collectively CDS). The AMF believes it is advisable to submit this latest information for public consultation before issuing any decision with respect to recognizing CDS, TMX Group and Maple as a clearing agency.
The AMF is therefore launching a consultation on CDS and is seeking comments, in particular with respect to the corporate governance and new pricing model proposed by Maple. Persons interested in submitting their observations are asked to follow the process for written observations set out in the Notice and do so no later than June 4, 2012.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
- 30 -
Information:
Media only:
Sylvain Théberge: 514-940-2176
Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
Twitter: @lautorite This link will open in a new window