Maple Group is expected to speak

Maple Group is expected to speak up this week, ahead of its Sept. 30 $50-a-share bid deadline for the TMX Group. Earlier this summer, Maple planned to continue extending the deadline until it receives approval from regulators. According to an article in the Financial Times, the Competition Bureau plans on revealing its decision after both the Ontario and Quebec securities commissions hold hearings. The OSC has not yet scheduled a hearing, but should do so 30 days after releasing Maple's detailed application. Investors continue to remain uncertain that the merger will go through, as seen in the TMX's stock price which dropped under $39 Monday, down from $45.69 in June

.

Also this week, Hong Kong Exchanges & Clearing hired Chi-X Global's chief technology officer, Richard Leung, as co-head of information technology. The Hong Kong exchange plans to spend the next two year upgrading its technology to help compete with ATSs, such as Chi-East and Chi-X Japan, and other global exchanges.

by Stockwatch Business Reporter