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.Â 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?