Statement From Ontario Finance Minister Dwight Duncan In Response To Proposed Merger of London and Toronto Stock Exchanges
Today's announcement of a proposed merger between the TMX and London Stock Exchange is a significant development in the financial sector. Above all else, our job is to protect Ontario's and Canada's interests.
Our government is very proud of Ontario's expertise in financial services and Toronto's prominent global position in this sector.
It is premature to talk in detail about the proposal. We will look at any proposal carefully and will work with other governments including the federal government.
The financial services sector is important to Ontario, both in its own right and in terms of the capital and investment opportunities it provides to all other sectors. We need to understand the impact on Ontario and the Ontario markets.
A process needs to exist for Ontarians to have a say and the Ontario Securities Commission will fulfill that need.