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Stock exchanges are a hot commodity, with a wave of deals consolidating the market, as Dealscape recently noted. Now, Canada's TSX Group Inc. has joined in the flurry of dealmaking with its agreement to purchase futures exchange Bourse de Montreal for $426 million in cash, plus $15.3 million in TSX shares.
TSX is the operator of Canada’s two national stock exchanges, Toronto Stock Exchange and TSX Venture exchange. TSX hopes the deal creates an integrated exchange for equities, bonds, options and derivatives, and for spearheading both companies' efforts to diversify their operations. The union would create a combined company called TMX Group Inc, which will be headquartered in Toronto. The most recent exchange deals include Nasdaq's purchase of the Philadelphia Stock Exchange Inc. for $652 million in November and the Boston Stock Exchange for $61 million in October. Full coverage will come later in The Daily Deal and on TheDeal.com. — Gerald Magpily
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