Wow. Imagine the implications of this, especially with respect to the close relationship now shared between Cincy and Island,
which itself is in the process of being acquired by Instinet.
Toronto Exchange in Talks to Buy Cincinnati Exchange, Post Says
Toronto, June 18 (Bloomberg) -- The Toronto Stock Exchange is
in talks to purchase the Cincinnati Stock Exchange, an electronic
bourse, to expand outside Canada, the National Post reported,
citing a person familiar with the matter.
A U.S. purchase would expose companies listed on the TSE,
Canada's largest stock exchange, to a larger number of U.S.
investors, the paper said. The Cincinnati bourse, which is based
in Chicago, lets investors trade shares listed on other exchanges
through a computer network.
A spokesman for the Toronto exchange, which is preparing to
sell shares to the public, declined to comment. He said the
Canadian exchange would like to establish a presence in the U.S.,
the Post said.
Lynne Howard, a spokeswoman for the Chicago Board Options
Exchange, which owns about two-thirds of the Cincinnati market's
239 membership certificates, confirmed the board hired investment
bank Dresdner Kleinwort Wasserstein earlier this spring to look
for potential buyers, the Post reported. She declined to comment
on any talks with the Toronto exchange.
(c) 2002 Bloomberg |
