(November 11 – 12:40 ET) –
Canadian stock exchanges and the
Québec government have
reached a satisfactory agreement
without the need for legislation,
says Jean-Claude Scraire, Chairman
of the Board and Chief Executive
Officer of the Caisse de
dépôt et placement du
Québec.
The executives of the exchanges
have partially taken into account
the concerns of the public
authorities and stakeholders, and
have considered certain adjustments
to the memorandum of agreement they
signed last March, he said in a
prepared statement.
As one of the major features of
the restructuring, Scraire says he
would like to see the stock
exchanges open up their
ownership to new players.
As stated in its June 7
submission to the Commission des
valeurs mobilières du
Québec, “the Caisse
maintains that one of the necessary
conditions for restructuring the
Canadian exchanges is to open up
their ownership to new players,
including issuing companies,
institutional investors and other
major financial players. Their
ownership should
provide for a well-defined
representation of regional
interests and ensure significant
representation of Montréal’s
financial sector and the other
regions of Canada on the board of
each exchange.”
-IE Staff
For more please see: