TMX Group in talks to buy U.S. exchange operator Direct Edge: WSJ report

TORONTO – The Wall Street Journal is reporting that the TMX Group Inc. (TSX:X) is in talks to acquire U.S. stock exchange operator Direct Edge Holdings LLC.

Citing people familiar with the matter, including one who said the talks may fall apart, the report said a deal was unlikely until TMX cleared its own regulatory hurdles related to its agreement to be taken over by Maple Group Acquisition Corp., a group of Canadian banks, insurers and pension funds.

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A spokeswoman for the TMX Group – which operates the Toronto Stock Exchange and other Canadian markets – says the company does not comment on rumours.

A spokesman for Direct Edge also declined to comment.

Direct Edge, based in Jersey City, N.J., is the fourth largest stock market in the U.S. and holds about 10 to 12 per cent of the U.S. stock exchange market share.