The London Stock Exchange has agreed to merge with Canada’s TMX Group.
The merged group will be co-headquartered in both London and Toronto and will have more than 6,700 companies listed on the combined exchanges with a market capitalisation of £3.7 trillion, the firms said.
The LSE’s chief executive Xavier Rolet will head up the enlarged business with TMX’s chief executive Thomas Kloet becoming the firm’s president.
Kloet said: “We are creating an international group with deep expertise, undeniable leadership in key sectors and the ability to compete and win on the global stage,”
“Canadian customers will benefit from access to one of the world’s deepest capital pools while European issuers will have an effective gateway to North American financial markets.”