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    Our new report maps rental affordability in neighbourhoods across Canada by calculating the “rental wage,” which is the hourly wage needed to afford an average apartment without spending more than 30% of one’s earnings.  Across all of Canada, the average wage needed to afford a two-bedroom apartment is $22.40/h, or $20.20/h for an average one […]
    Canadian Centre for Policy Alternatives
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    Canadian Centre for Policy Alternatives
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    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
  • Tickets available for Errol Black Chair Fundraising Brunch 2019 June 26, 2019
    You are invited to CCPA-MB’s annual fundraising brunch in support of the Errol Black Chair in Labour Issues.  Please join us to honour: Honoured Guest: John Loxley is Professor of Economics at the University of Manitoba and a Fellow of the Royal Society of Canada. Guest Speaker:  Jim Stanford is Economist and Director of the Centre […]
    Canadian Centre for Policy Alternatives
  • The fight against ISDS in Romania June 24, 2019
    CCPA is proud to co-sponsor this terrific video from our colleagues at Corporate Europe Observatory. It chronicles grassroots resistance to efforts by Canadian mining company Gabriel Resources to build Europe’s largest open-pit gold mine in a culturally rich and environmentally sensitive region of Romania. After this unimaginably destructive project was refused by the Romanian public and courts, the […]
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

The TMX Merger/Takeover

One concern is that this deal may undermine our ability to regulate financial markets.

If the Canadian exchanges become majority owned in the UK, and if the Canada – EU deal is ratified with a Chapter 11 like investment clause, then we leave ourselves open to sanctions if and when we impose regulations which result in a loss of expected profits.

Why does this matter? More and more of the activity on exchanges is trading of derivatives of all kinds as opposed to plain jane equities.  Gambling in futures, options and swaps of shares should be regulated in the public interest.

If we end up with global exchanges, who is going to regulate the markets?

Comments

Comment from Brent Gulanowski
Time: February 10, 2011, 5:56 am

How about a link to what you’re writing about?

Comment from Nathan Rao
Time: February 10, 2011, 7:52 am

Diane Francis was railing against the merger on CBC Radio here in Toronto this morning. After recovering from listening to the sheer gall and hypocrisy of this free-market hack calling for government intervention to protect Canada’s financial sector, listeners then had to hear her alternative to the merger: a TSX takeover of London as a stepping stone for a Toronto/Canadian-based world domination of resource and mineral exchanges.

I hope those of us on the Left are able to make the case for opposing the merger without having anything to do with these megalomaniacal ambitions of Canadian business and finance.

Comment from Arthur Smitherman
Time: February 10, 2011, 10:31 pm

Most underestimate the vast financial resources that we have here in Canada. To merge the TSX with the LSE is “one giant step” to an esculation in food prices. The commodity traders will make a killing on market manipulation and food and other commodity prices will spike dramatically. The TSX and it’s venture exchange are very well respected all over the world. Having “home grown” venues for fledgling start up companies to list is extremely important to our economy and will become more so as the US and other markets ascribe to Capital Market Liberalization policy “more and more”, and continue to engage in corruption. We have already scene what happens when financial markets are poorly regulated, see Eygpt, Tunasia and third world countries alike. Hello! Write your MPP and MP now and say no to corrupt financial markets!

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