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Just a brief note, but the planned merger between the Toronto and London stock exchanges  has fallen through. As this blog has previously mentioned, there’s been a wave of consolidations between exchanges in the past while. With the ASX/SGX merger and the Toronto/London merger falling through, I wonder if that is actually signalling the end of that activity for the near-term (in light of the significant uncertainty being generated by the Greek default).

In any case, the other possibility raised by this failure is that Toronto may seek another partner leaving the London exchange free to merge with other exchanges. The ASX is one possibility that has been mooted, though the synergies are not so strong.

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