CALGARY — The CEO of the Bank of Nova Scotia (TSX:BNS) says he’s in favour of the Toronto and London stock exchange operators joining forces — with some caveats.
Rick Waugh says he hopes the two exchanges seal the deal in a way that protects national and regional interests.
He says he believes in free markets and it would be a shame if the deal fell through for protectionist reasons.
However, he acknowledges regional stock exchanges are important, and that it’s not as simple as putting two mining companies together.
Bank of Montreal (TSX:BMO) has said it also supports the TMX-LSE deal, whereas Canadian Imperial Bank of Commerce (TSX:CM) and Toronto Dominion Bank (TSX:TD) have expressed misgivings.
Waugh made his comments on the sidelines of the annual meeting of the Inter-American Development Bank.