Canadian bank and fund managers plan to launch exchange

Royal Bank of Canada is leading a group with plans to launch an exchange to rival the Toronto Stock Exchange, which is operated by TMX Group. The new exchange would limit or eliminate high-frequency trading. "TMX will feel some pressure," said Shubha Khan, an analyst at National Bank Financial. "I don't know that there's any other reason for the creation of the exchange other than to curb high-frequency trading."

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