Aequitas Innovations Inc. and its subsidiary Aequitas NEO Exchange Inc. (“NEO” or “NEO Exchange”) are disappointed that the Competition Bureau of Canada has decided not to continue its investigation into the TMX Group at this stage. The Competition Bureau opened up an investigation after NEO filed a formal complaint requesting a federal investigation into certain anti-competitive practices of the TMX Group in December 2015. NEO believed, and continues to believe, that the TMX Group is using its dominant market position to maintain control over the pricing of market data in the Canadian capital markets. The main victims of the lack of consolidated market data outside of trading desks and proprietary trading firms in Canada are the retail investors, their investment advisors and public listed companies.
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