Bay Street firms pitch TSX rival exchange

Bay Street firms pitch TSX rival exchange

Canada’s biggest bank is joining with other major financial players to create a new stock exchange that the creators say will keep costs low and discourage computerized high-frequency trading, which some say is sapping confidence in market fairness.

Royal Bank, mutual fund conglomerates IGM and CI Financial, pension fund PSP Investments and international banks ITG and Barclays are combining to create a new stock exchange they’re calling Aequitas.

The name is the Latin word for fairness, and the financial titans founding the exchange say that idea will be a cornerstone of the new exchange.

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One Response to Bay Street firms pitch TSX rival exchange

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