Regulatory Organization of Canada

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The proposed TMX-London Stock Exchange merger and the more recently announced acquisition of NYSE Euronext by Deutche Boerse AG follow a trend of cross-border mergers of exchanges as capital markets become more integrated globally. The benefits of this trend are clear: Companies have access to more investors, investors have easier access to foreign stocks, and larger exchanges may be able to achieve economies of scale, with the cost savings passed on to both companies and investors.