TMX files with regulators on LSE deal; profit rises

flovestock

TORONTO— Reuters
Published Friday, May. 13, 2011 7:37AM EDT

TMX Group Inc. (X-T41.00----%), the operator of the Toronto Stock Exchange, on Friday reported a 13-per-cent rise in quarterly profit and said it filed applications with Canadian provincial regulators for approval of its $3-billion tie-up with the London Stock Exchange.

The two exchanges filed with securities commissions in Ontario, Quebec, Alberta and British Columbia. Last month, TMX and LSE filed its application with the federal government under the Investment Canada Act.

First-quarter profit rose to $64.3-million, or 84 cents a share, up from $56.7-million, or 77 cents a year earlier, helped by higher revenue and trading volumes.

On an adjusted basis, TMX earned 97 cents a share, compared with 77 cents a share, a year earlier.

Revenue for TMX, which also operates the Montreal Exchange derivatives market, rose 17 per cent to $174.7-million.