TWO of the world’s leading stock exchanges for resource stocks have announced a “merger of equals” to create a transatlantic group with a market capitalisation of $C5.8 trillion ($A5.7 trillion).
The combined group will have joint headquarters in London and Toronto, with 20 trading platforms/markets across Europe and North America.
The two companies have a combined value of around $7.1 billion and shares of the new holding company will continue to trade on both the London Stock Exchange and Toronto Stock Exchange.
The merged group will include the smaller Alternative Investment Market in London and TSX Venture Exchange in Toronto, which cater to small-cap and early stage companies, particularly in the mining sector.
It will also include Borse Italiana, owned by the LSE.
The two bourses will continue trading under their respective names.
The combined Toronto and London stock exchanges will be the number one listings venue in the world with 6700 total listings, as well as the top market in the world for mining companies.