TMX Group - kanadischer Börsenbetreiber - 500 Beiträge pro Seite

[R-BgO]

derzeit 4,4% Dividendenrendite

[R-BgO]

TORONTO, Oct 27 (Reuters) - Canadian stock exchange operator TMX Group Inc boosted its dividend on Wednesday as it reported a rise in quarterly profit and revenue, while expenses shrank, sending its shares up 2.7 percent.

TMX, which runs the Toronto Stock Exchange, the small-cap TSX Venture Exchange and the Montreal Exchange derivatives market, said net income rose to C$50.8 million ($49.3 million), or 68 Canadian cents a share, in the third quarter. That compares with a profit of C$41.7 million, or 56 Canadian cents a share, a year earlier.

The rise reflected strength in several business lines including issuer services and market data, as well as Canadian derivatives trading, clearing and energy trading.

'The results were very solid and the market perception will be the same,' said Shubha Khan, an analyst at National Bank Financial. He said management should be given credit for thwarting competition from alternative trading systems (ATS) such as Alpha ATS, which is backed by the dealer units of Canada's biggest banks.

Analysts, on average, had expected TMX to earn 64 Canadian cents a share, according to Thomson Reuters I/B/E/S.

The company raised its dividend -- to 40 Canadian cents a share from 38 Canadian cents -- for the first time since early 2007, which was a reflection of management's confidence in the business outlook, Khan said.

TMX Group was a top net gainer on the Toronto Stock Exchange on Wednesday morning, up 89 Canadian cents, or 2.7 percent, at C$34.45. It rose despite a 1 percent drop in the market's main S&P/TSX composite index.

Analysts on a conference call asked about merger and acquisition activity in the exchange business given Singapore's SGX's bid to buy Australia's ASX for $8.3 bln.

Chief Executive Tom Kloet said TMX is watching consolidation developments closely and noted that the company regularly assesses its strategic alternatives.

'We clearly remain committed to exploring those opportunities for growth, whether they're organically, or in other ways such as acquisitions, investments, partnerships or business combinations,' he told analysts.

'We're open to looking at a lot of different things.'

Revenue rose nearly 8 percent to C$141.6 million, roughly in line with analysts' average forecast of C$141.7 million. There was a drop, however, in revenue from cash markets equity trading, a recent sore point given intensifying competition from ATSs. The volume of securities traded on the main Toronto exchange in the quarter skidded 17 percent, while volume on the TSX Venture Exchange soared 16 percent.

Operating expenses in the quarter fell 2 percent to C$68.2 million.

TMX had about a 70 percent market share of stock trading activity in the third quarter on a volume basis, according to public data.

[R-BgO]

Financial Post · Friday, Dec. 10, 2010

It’s the TMX Group world tour and the stops have included Hong Kong, China, Brazil, Israel, Columbia, Mexico, Chile and India. Canada’s major stock exchange has deployed teams around the world in search of new listings. It is opening office in London in early 2011, and there are plans to set up new beachheads elsewhere. Facing several battles on the home front, where its traditional income stream has eroded, the exchange is actively pursuing international listings, selling its derivatives technology platform to other exchanges, and looking for new acquisitions in an effort to diversify its revenue base.

Jokes one Bay Street player: “The old grey lady is attempting a facelift.”

For more than 150 years, the TMX enjoyed its status as a monopoly. No longer. Having missed a number of opportunities to expand its North American footprint after it demutualized in 2000, the exchange is in a more vulnerable place, industry players say. Cash rich after its initial public offering, the conservative board of directors spent much energy consolidating the Canadian market and failed to take advantage of opportunities outside Canada to build itself into a global powerhouse, critics say.

“They could have bought Nasdaq at one time when it was flat on its ass after the tech meltdown,” says one veteran industry insider. Says another: “They should have used that [IPO] currency to go transnational.”

As a result, the new TMX chief executive, Tom Kloet, is playing catch-up. How he handles the hurdles over the next few years will determine whether the exchange maintains its current status quo or whether competitors continue to eat its lunch. “The institution as I understand it had a look at a couple of opportunities, [but] whether they should have done them or shouldn’t have done them, I don’t know,” says Mr. Kloet, who took over the TMX in July 2008.

His mandate was to assimilate the Montreal Stock Exchange after the 2007 merger with TMX, sort out technology issues and expand various business lines. Mr. Kloet gets good marks for fixing some of the technology problems that have plagued the exchange. He cleared bottlenecks and increased the execution speeds. He also attracted new liquidity to the Canadian marketplace, offering rebate programs that attracted U.S. high-frequency traders. But he’s the first to admit since his appointment the business “paradigm has changed.”

The TMX’s current challenge is to extend new business lines and make strategic acquisitions while also curbing the erosion of its market share in key areas such as equities trading, issuer services and market data. It’s already facing a competitive threat on the trading side of its business — fees from trading have dropped to 19% from 36% of total revenues between 2004 and 2010 because of increased competition from alternative trading systems (ATS), such as bank-owned Alpha Group, Pure Trading and Chi-X Canada. TMX’s market share has dropped to about 64%, if TSX-listed securities are included, and 73% including venture listings.

The ATS grab appears to have levelled off. The temporary reprieve may be due to the fact the Investment Industry Regulatory Organization of Canada said in September it would review Alpha’s Momentum Initiative program in which it asks the bank-owned backers to join a plan to switch some orders from other markets to their own.

Insiders, such as Ian Bandeen, chief executive of Toronto-based alternative exchange CNSX Markets Inc., believe this is simply a market pause and that it’s “highly likely” TMX’s share of the trading volume may drop below 50% by next summer. “It will mirror a trend we’ve seen in other capital markets that have gone through multi-market evolution,” Mr. Bandeen says. “The more sophisticated players, including some of the buy side, will want to see market share compression [more platforms with equal market share] to mask their order flow.”

Execution committees at each bank also will become more price-conscious, and that may also drive traffic elsewhere, he says.

Further erosion of the trading side of its business may be the least of Mr. Kloet’s worries. For one, he doesn’t think Alpha’s trading engine can do much more damage to his exchange. “I hate to disparage a retailer, but I don’t think selling a product by making it cheaper is innovation,” Mr. Kloet says.

More important, TMX is facing threats on two other fronts: Alpha is taking aim at TMX’s listing business by applying to be a full exchange; and a battle is now brewing over market data fees. Brokerage houses pay to get information from the TMX on buy and sell figures so they can execute at best price.

Over the past six years, the market data fees have represented 27% of total revenues coming into the exchange — a 2% jump from 2004. That amounts to roughly $146-million annually. But the broker/dealers are balking at paying for “data costs that are higher than any other jurisdiction,” says Ian Russell, president of Investment Industry Association of Canada (IIAC). IIAC has hired the U.S. consulting company Securities Litigation Consulting Group to do a comparative survey of the market data prices.

Mr. Russell says the plan is to “first talk to the regulators,” to see if they can get the TMX to drop market data fees. “If the conclusions suggest there has been excessive pricing, I think it makes a strong argument for the commission to do something about it,” he says. Another option he says is to take the study to the federal Competition Bureau. “Even though the TMX is not a monopoly, they still have a very large position in the market, and being oligopolistic, they have significant market pricing power,” he says.

Mr. Kloet scoffs at the idea the banking community, which he says is “oligopolistic itself,” would attempt to take the TMX to the Competition Bureau. After all, they aren’t the only group charging high market data fees. As Torestein Braaten, chief executive of MatchNow, points out, the bank-owned Alpha Group is also charging monthly data fees which “I’d argue are high relative to their participation [market share].”

Mr. Kloet says he’s not going to lower fees “without a fight,” and is confident the TMX can deflect the other competitive threats as well. On Alpha’s attempt to become a full-blown exchange, Mr. Kloet argues that “it’s not the easiest thing to wake up in the morning and offer listings.”

“We have a 157-year history of adjudicating pretty complicated questions that come to us from investing banks, often at the 11th hour, and often with a fairly complicated set of circumstances where we act as an approval mechanism,” Mr. Kloet says. “Is the [bank-owned trading platform] willing to take a complex transaction to someone to adjudicate, and will they have the means by which to do it?”

As for the pricing of market data, Mr. Kloet is “confident our fees are fair when compared to other markets.”

Despite the public bravado, Mr. Kloet is keenly aware he has to find new revenue streams. While the derivatives market — thanks to the merger with the Montreal Exchange — now accounts for 14% of revenues, the merger isn’t viewed as a complete success. Critics argue it did not accomplish the synergies expected or generate product innovation. As well, there is still the overhanging issue: Did the TSX pay too much for the MSE? After all, it still has $460-million in goodwill on its books related to the $1.3-billion deal. Mr. Kloet believes the ME is performing well and there will be no writedown.

As for the future, there are business lines Mr. Kloet thinks the exchange can develop to build new streams of revenues. The recent purchase of Calgary-based Natural Gas Exchange Inc. has helped TMX boost revenues from energy trading and clearing to 8% in 2010 from 4% in 2004.

Mr. Kloet also wants to build out services around IPOs, push its risk-management tools, launch the fixed-income and repo-clearing market and convert some of its market data to offer more value-added information, much like a Thomson Reuters service.

The exchange could also beef up its technology through acquisitions. Chi-X Europe is up for sale, and Ften, a U.S.-based technology provider that builds systems to allow traders to get data faster from exchanges and manage risk, is also a potential target.

Mr. Kloet brushes aside speculation the TMX itself may be taken over.

One deterrent is the ownership rule in which no one group can own more than 10% of the exchange. Any acquisition of TMX also would require approval of the Ontario Securities Commission, Quebec’s Autorité des marchés financiers and Investment Canada.

Instead, Mr. Kloet is focussed on the TMX world tour. Some of his best listings success has been in Australia, but the TMX now also boasts 52 Chinese listings with a collective $9-billion market cap. Mr. Kloet, who this spring hosted a dinner for the listing companies, says “it would be an understatement to call this an eclectic group.”

Among the Chinese listings, it’s not just resource companies being added; the group includes a fireworks manufacturer and a shoe manufacturer.


Read more: http://www.financialpost.com/world+tour/3960362/story.html#i…

[R-BgO]

Antwort auf Beitrag Nr.: 40.698.524 von R-BgO am 13.12.10 10:22:22

http://www.financialpost.com/world+tour/3960362/story.html

[R-BgO]

TORONTO, Feb 8 (Reuters) - The London Stock Exchange is in advanced talks to take over TMX Group, owner of the Toronto Stock Exchange, several British newspapers, including the Financial Times, reported on Tuesday.

Sources told the FT that the LSE would use Toronto-listed secondary shares to acquire TMX and that the combined group would have a market capitalization of 5.5 billion pounds ($8.8 billion), and that it would be the world's biggest platform for mining company listings.

[R-BgO]

http://www.cnxmarketlink.com/en/releases/archive/February20…

[R-BgO]

Theresa Tedesco and Barbara Shecter, Financial Post · Wednesday, Feb. 9, 2011

Canada’s dominant stock exchange group confirmed Wednesday that it has agreed to merge with the London Stock Exchange to forge a nearly $7-billion merger that would likely end the autonomy of a 150-year-old Canadian institution.

TMX Group Inc., which operates the country’s largest exchanges in Toronto and Montreal, had confirmed the talks late Tuesday, characterizing the potential deal as “a possible merger of equals to create an international exchange leader.”

But the market value of the two is not equal. The LSE is larger, with about $3.87-billion in market value, while the Canadian exchanges are valued at about $2.99-billion. That means the shareholders of Britain’s national exchange would own more than the shareholders of this country’s biggest exchanges.

However, the newly-merged entity will have two head offices, one based in Toronto and the other in London, and the executive ranks will be evenly split.

“Two highly successful and profitable institutions are joining forces to create a more diversified and international company,” said Wayne Fox, chairman of TMX Group in a statement. “This merger of equals will benefit shareholders, issuers, customers, employees and other stakeholders of both organizations.”

While the marriage would be “good for both entities,” the Canadian government “may put some restriction on ownership,” said Stephen Boland, an analyst at GMP Securities in Toronto.

Any merger involving the Toronto and Montreal exchanges under the TMX banner would require the approval of the federal Minister of Finance because there are restrictions on single entities owning more than 10% of a stock exchange.

Industry Minister Tony Clement said in a statement Tuesday night that should the LSE and TMX talks result in a "concrete" deal, he and his officials would look at how Canadian rules governing foreign investment might apply. Under law, the government reviews any foreign investment over a $299-million threshold to ensure the deal is a "net benefit" to Canada.

The London exchange lists some of the world’s largest mining companies while the TMX is a leader in listings of junior mining firms.

Jeff Fenwick, an analyst at Cormark Securities, said bringing the exchange groups together would create one of the biggest resource exchanges in the world, creating a competitive advantage at a time when global demand for resources is on the rise.

“Suddenly you would have a very large listings franchise,” Mr. Fenwick said.

According to sources familiar with the merger talks, the TMX and LSE have been in serious negotiations for the past month, with TMX chief executive Thomas Kloet leading the charge for the Toronto exchange.

The proposed merger surfaced in the wake of the TMX’s failed preliminary discussions with the NYSE about joining a market model called next-generation. The Canadian group viewed the NYSE as the preferred partner, over the rival NASDAQ Stock Market, which had been in pursuit of the Canadian exchanges.

Analysts said there has been speculation for years that the NYSE or the London exchange would want to merge with the Canadian group, which already licenses a derivatives trading platform to the British counterpart.

The need for cutting-edge technology and economies of scale is likely to continue to drive mergers around the world. Observers predict that the lion’s share of stock trades will ultimately be conducted over a handful of mega-bourses.

“As long as technology can drive costs down, there’s incentive to merge,” said Laurence Booth, a finance professor at the Rotman School of Management.

Shares in the LSE, first established in 1698, jumped 9% as markets welcomed the all-share deal. It values the Toronto group at about US$3.2 billion and gives the new company a market value of 4.3 billion pounds based on Tuesday’s prices.

Shares of TMX Group soared to a 52-week high of just above $40 on Tuesday from about $33 last October – when the marriage of the stock exchanges in Australia and Singapore prompted speculation that a major merger trend had begun.

Source say the London exchange has been looking for a merger partner to fend off advances from Nasdaq and the Deutsche Börse Group.

“This is the best way for them [LSE] of preserving their independence while the TMX avoids getting tied up in a cross border merger of unequals,” said a source familiar with the merger discussions who asked not to be named.

Analysts predicted the merger between the LSE and the TMX could face major hurdles if the issue gets drawn into the political arena.

“Absolutely there’s going to be a lot of discussion,” said Mr. Fenwick. “People are going to say it’s our national exchange [and that it shouldn’t fall into foreign hands].”

Thomas Caldwell, chairman of Caldwell Securities Ltd., who has holdings in both the London and Canadian exchanges, said a combination makes sense because the large, established exchanges have been “bleeding off volume” to new trading platforms such as Alpha Trading Systems and Chi-X, backed by New York based electronic trading firm Instinet Inc.

“We’re entering a wild period on exchanges,” said Mr. Caldwell. “Once one merger takes place, stick around, there’s going to be more happening,” he said.

Going forward, industry players say, the combined British and Canadian exchanges will have to cut costs dramatically to be competitive. The LSE bought a Sri Lankan technology company almost two years ago and is about a week away from unveiling a new principal trading engine.

At the same time, the TSX has had its own technological challenges and has made substantial investments to stay competitive, but it has become difficult and expensive to run a world-class technological platform in a single market place, especially one the size of Toronto.

“At some point there is going to be a rationalization of the information technology resources across the two organizations,” said an industry source who spoke on the condition of anonymity. “Both are legacy incumbents who have lost considerable market share to competitive entities. It’s going to take a tremendous amount of energy and time for both organizations to make this merger work.”

National Post with files from John Greenwood and Barry Critchley

[R-BgO]

TMX Group Makes Investment in the Bermuda Stock Exchange
BSX and TMX Group to open trading on Toronto Stock Exchange today

TORONTO AND HAMILTON, Dec. 21, 2011 /CNW/ - TMX Group Inc. (TMX Group) and Bermuda Stock Exchange (BSX) today announced that TMX Group has purchased a 16% minority stake in the BSX. TMX Group is now one of the largest shareholders of the BSX, and Tom Kloet, CEO, TMX Group, will be joining the BSX board of directors.

To celebrate, Greg Wojciechowski, President and CEO, BSX, will join Mr. Kloet to open trading on Toronto Stock Exchange this morning at 9:30 a.m. EST.

The announcement comes at a time of increased business activity between Bermuda and Canada. Most notably, a Tax Information Exchange Agreement was signed between the two countries earlier this year, effective July 1, 2011. In addition, the BSX gained recognition as a Designated Stock Exchange under Canada's Income Tax Act, effective October 31, 2011.

"This investment represents TMX Group's commitment to looking beyond Canada for opportunities," Mr. Kloet said. "BSX and TMX Group both have a culture of continually striving to innovate and offer our clients enhanced products and excellent customer service. I am certain we will be well aligned as we consider future initiatives together."

Mr. Wojciechowski added: "I'm delighted to welcome TMX Group as a BSX shareholder and Tom Kloet to our board of directors. Canada and Bermuda share a long history and important jurisdictional ties, this strategic investment can only strengthen this long standing relationship. We look forward to exploring new avenues of economic development and mutually beneficial cooperation in our domestic and international capital markets."

[R-BgO]

verstehe hier etwas nicht:

der Kurs ist seit einiger Zeit bei rund 42 CAD festgenagelt, obwohl die Maple Group 50 CAD bietet

als "Risiko" sehe ich nur, dass sie nicht den ganzen Laden, sondern maximal 80% haben wollen; wenn also alle Aktionäre andienen, dann würde man die 50 CAD nur für 80% seiner Stücke erhalten, dafür aber natürlich die 20% behalten

für mich heißt das: entweder ein risikoloser Gewinn von rund 50/42-1 = 19% oder saldiert 2 CAD bezahlen für 20% einer Aktie die derzeit bei 40 CAD notiert...

Wo ist der Haken?

Habe heute mal aufgestockt und angedient.

[R-BgO]

Antwort auf Beitrag Nr.: 42.778.125 von R-BgO am 20.02.12 16:56:08

gab wohl keinen Haken; müsste 88% meiner Aktien losgeworden sein:


Maple And TMX Group Announce Take Up Under Maple Offer; All Conditions to Maple Offer Have Been Satisfied
July 31, 2012

New Maple Board of Directors has been appointed
Approximately 91% of outstanding TMX Group shares deposited under Maple offer
Offer remains open until 5:00 p.m. (Eastern time) on August 10

TORONTO, July 31, 2012 – Maple Group Acquisition Corporation (“Maple”) and TMX Group Inc. (“TMX Group”) today announced that all of the conditions to Maple's offer to acquire up to 80% of the TMX Group shares for $50 per share in cash (including the receipt of all regulatory approvals) have been satisfied of the initial expiry of the Maple offer at 5:00 p.m. (Eastern time) on July 31, 2012. Approximately 91% of the outstanding TMX Group shares have been deposited under the offer, satisfying the minimum tender condition. Maple has taken up all TMX Group shares deposited under the offer in accordance with the terms thereof, and the offer has been further extended for an additional 10-day period until 5:00 p.m. (Eastern time) on August 10, 2012 (the "deposit extension period"). The purpose of the deposit extension period is to provide those TMX Group shareholders that have not yet deposited their TMX Group shares under the offer an opportunity to receive cash in respect of a portion of their TMX Group shares.

A new Board of Directors has been appointed for Maple, TMX Group and its principal operating subsidiaries, and the new Board will name TMX Group officers as officers of Maple. As disclosed in Maple’s Notice of Change of Information filed on SEDAR on July 19, 2012, Chuck Winograd will serve as the Chair of the Maple Board and the TMX Group Board, and Tom Kloet will serve as Chief Executive Officer of both Maple and TMX Group, in addition to serving on the Boards of Maple and TMX Group.

In addition to Mr. Winograd and Mr. Kloet, the other Directors, as disclosed in Maple’s Notice of Change of Information dated July 19, 2012, are: Luc Bertrand, Denyse Chicoyne, Marie Giguère, George Gosbee, William Hatanaka, Harry Jaako, William Linton, Jean Martel, William T. Royan, Gerri Sinclair, Kevin Sullivan, Anthony Walsh, Eric M. Wetlaufer, and Tom Woods.

Maple intends to complete the acquisitions of Alpha Trading Systems Inc. and Alpha Trading Systems Limited Partnership (collectively, “Alpha”) and The Canadian Depository for Securities Limited (“CDS”) on August 1, 2012. As previously announced, Maple will be renamed “TMX Group Limited” on August 10, 2012.

Mr. Winograd made the following comment:

"It is a privilege to be invited to serve as Chair and to help guide this great institution forward. In addition to being a successful business with interesting growth opportunities, TMX Group plays a central role in Canada’s capital markets and has an important public interest mandate. I look forward to working with my fellow directors, Tom Kloet and the management team, to advance the company’s goals and enhance its contribution to the success of Canada’s public capital markets."

Mr. Kloet added:

"TMX Group is pleased with today’s outcome. Tomorrow, we will welcome employees from CDS and Alpha to our organization and together we will build an even stronger, more competitive company. We are excited by the opportunities before us and are committed to serving all of our clients with excellence and innovation in the months and years ahead."

"I would also like to take this opportunity to thank our departing directors for their years of service to TMX Group and for their guidance and direction throughout this process. I would particularly like to thank Wayne Fox. For over 15 years, 11 of them as Chair, he provided leadership and direction to a number of CEOs and helped guide this company through several important milestones. I am personally grateful to him for his counsel and partnership over my time at TMX Group and throughout the process that we have just concluded. I look forward to working with the new Board, which includes new and continuing Directors, to advance the company’s objectives."

Speaking on behalf of Maple investors, Luc Bertrand said:

"We are very pleased with the level of support that shareholders have shown for this transaction as well as for the integrated exchange and clearing business proposition we have put forward. We also thank the Canadian regulatory authorities for their rigour and diligence in reviewing our proposal. The company will move forward with a new Board that represents a cross-section of experience and knowledge reflecting the importance of the company across the Canadian capital marketplace and the commitments made to regulatory authorities. I look forward to serving with my fellow Directors and to contributing to TMX Group’s future success."

Further Details

The Maple offer remains open for deposits until the expiry of the deposit extension period at 5:00 p.m. (Eastern time) on August 10, 2012. Any TMX Group shareholder that wishes to receive cash consideration for a portion of their TMX Group shares must deposit their shares under the offer prior to such time and select the “Full Deposit Election” in respect of such shares, failing which those TMX Group shares will be acquired in exchange for Maple shares on a one-for-one basis pursuant to the subsequent arrangement, as described below.

Of the deposited TMX Group shares, approximately 83% of the outstanding TMX Group shares were deposited under the Full Deposit Election made available under the offer, and approximately 8% of the outstanding TMX Group shares were deposited under the "Minimum Deposit Election".

Since more than 70% of the outstanding TMX Group Shares have been deposited under the offer under the Full Deposit Election, no TMX Group Shares deposited under the Minimum Deposit Election will be acquired under the Offer.

In addition, since more than 80% of the outstanding TMX Group shares have been deposited under the offer under the Full Deposit Election, the number of TMX Group shares to be acquired for $50 cash per TMX Group share will be pro rated at the expiry of the deposit extension period. If the applicable pro ration factor to be applied at the expiry of the deposit extension period had been applied to the TMX Group shares deposited as of 5:00 p.m. on July 31, 2012, approximately 96% of the TMX Group shares subject to Full Deposit Elections would have been acquired for $50 in cash per share, with the remaining approximately 4% of the TMX Group shares deposited under such election being returned to the depositing TMX Group shareholders and exchanged for Maple shares on a one-for-one basis upon completion of the subsequent arrangement described below. However, such percentages will not be finalized until the expiry of the deposit extension period and will vary to the extent that any additional TMX Group shares are deposited under the offer under the Full Deposit Election during the deposit extension period.

Upon expiry of the deposit extension period, Maple will apply the applicable pro-ration factor to TMX Group shares deposited prior to such time under the Full Deposit Election and pay for those TMX Group shares that are to be acquired. Shareholders should expect to receive payment through the appropriate intermediaries during the week of August 13, 2012. Any TMX Group shares deposited but not acquired under the Maple offer (including those deposited under the Minimum Deposit Election) will be returned to the depositing TMX Group shareholders and, together with all TMX Group shares not tendered to the Maple offer, will be exchanged for Maple shares on a one-for-one basis upon completion of the subsequent arrangement described below.

Maple will use its best efforts to complete the subsequent arrangement within 35 days following expiry of the deposit extension period. The subsequent arrangement is a share exchange transaction pursuant to a court-approved plan of arrangement under which the remaining TMX Group shares held by TMX Group shareholders (other than Maple) will be exchanged for common shares of Maple on a one-for-one basis. Such plan of arrangement will be subject to court approval following a hearing by the court on its fairness to TMX Group shareholders. As at least two-thirds of the outstanding TMX Group shares will be acquired by Maple at the expiry of the deposit extension period, the applicable shareholder approvals for the subsequent arrangement are assured. A management information circular in respect of the subsequent arrangement is expected to be filed and mailed to TMX Group shareholders shortly following the expiry of the deposit extension period, and the shareholder meeting to consider the subsequent arrangement is scheduled to be held on September 12, 2012.

Maple has received conditional approval to list the Maple shares on Toronto Stock Exchange following completion of the subsequent arrangement. Listing of the Maple shares on Toronto Stock Exchange is subject to the satisfaction of the applicable conditions on or before October 2, 2012.

Deposit Instructions

Shareholders who have not previously deposited their TMX Group shares and wish to receive cash for a portion of their TMX Group shares must tender their TMX Group shares under the offer prior to the expiry of the deposit extension period and make the “Full Deposit Election” under the offer. Shareholders who would prefer to receive Maple shares for their TMX Group shares need not take any further action at this time.

Beneficial shareholders – If your TMX Group shares are held in a brokerage account or otherwise through an intermediary, you must contact your broker/intermediary immediately and advise them of your instructions for depositing your TMX Group shares on your behalf to Maple's offer prior to 5:00 p.m. (Eastern time) on August 10, 2012.

Registered Shareholders (who have a physical certificate in their name) – If your TMX Group shares are held in your own name, please complete the Letter of Transmittal (printed on GREEN paper) and deposit it along with your share certificate in the enclosed envelope to the Depositary – Computershare Investor Services Inc. – along with all other documents required by the instructions set out in the Letter of Transmittal prior to 5:00 p.m. (Eastern time) on August 10, 2012.

Questions and requests for assistance may be directed to the Information Agent for the offer, Kingsdale Shareholder Services Inc. at 1-888-518-1556 toll-free in North America, or at 1-416-867-2272 outside of North America (collect calls accepted), or by e-mail at: [e-mail].

Details of Maple’s offer are available in its Offer and Circular dated June 10, 2011, as varied by the Notice of Variation dated June 24, 2011, the Notice of Change and Extension dated August 8, 2011, the Notice of Extension dated September 29, 2011, the Notice of Variation and Extension dated October 31, 2011, the Notice of Extension dated January 31, 2012, the Notice of Extension dated February 24, 2012, the Notice of Extension dated March 30, 2012, the Notice of Change and Extension dated May 3, 2012, the Notice of Extension dated May 31, 2012, the Notice of Change of Information dated July 19, 2012 and a further Notice of Extension to be issued shortly in respect of the deposit extension period. These documents are, or will shortly be, available at www.abetterexchange.com and under TMX Group’s SEDAR profile at www.sedar.com.

[R-BgO]

Antwort auf Beitrag Nr.: 43.460.934 von R-BgO am 06.08.12 13:34:08

Shareholders should expect to receive payment through the appropriate intermediaries during the week of August 13, 2012.

[R-BgO]

Antwort auf Beitrag Nr.: 43.460.934 von R-BgO am 06.08.12 13:34:08

kam alles wie geplant, halte meinen Restbestand immer noch und die dividende kommt auch

[R-BgO]

TMX Group Announces the Launch of AgriClear

Transformational web-based platform will connect North American cattle producers


June 16, 2015 (CALGARY) – TMX Group today announced a new initiative that will further expand the reach of its world-leading operational capabilities. AgriClear, an online platform designed to provide U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective transaction and payment service opens today.

"Today's launch of AgriClear represents an important opportunity for TMX Group to apply the depth of expertise we have across our business lines to address client needs in a new market," said Lou Eccleston, CEO TMX Group. "We are pleased to be at the forefront of major evolutionary steps in the U.S. and Canadian cattle markets."

AgriClear offers cattle producers a new way to do business with important benefits for both buyers and sellers, including assured payment for cattle delivered at the terms negotiated. By joining the AgriClear community, marketers will now be able to securely list and execute cattle transactions from their computer.

With offices in Calgary, Houston, Bowling Green (Kentucky), and Greeley (Colorado), AgriClear operations will benefit from the financial support and clearing expertise of NGX, a wholly-owned subsidiary of TMX Group that offers trading and clearing services for natural gas, crude oil and electricity contracts.

AgriClear features are designed to deliver multiple benefits to U.S. and Canadian cattle buyers and sellers, including a lower cost structure, an expanded market with a broader network of verified members, and financial certainty for transactions, with NGX acting as administrator of AgriClear's back-office payment and settlement services.

"AgriClear is an exciting initiative that will expand NGX's reach into the cattle business," said Jim Oosterbaan, President and CEO, NGX. "We are excited to provide buyers and sellers with choice, efficiency and transparency as well as the opportunity to conduct business on their terms. AgriClear leverages our proven capabilities in facilitating delivery and providing payment solutions."

[R-BgO]

ich glaube, der Thread sollte umziehen

da hier keine Verbindung zur "neuen" Aktie mehr besteht;

deswegen Thread: TMX Group