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TMX Says Aramco Listing Can Still Happen

Traders Magazine Online News, May 23, 2018

John D'Antona Jr.

It ainít over until its over, as New York Yankee Yogi Berra would say.

According to TMX Group CEO Lou Eccleston his exchange network is still in discussions with the Saudi Arabian oil giant Aramco to get a portion of the global listing component of the looming IPO. Any listing, he added, would be on the Toronto Stock Exchange.†

To grab a piece of the exclusive listing which has been sought after by the likes of Nasdaq, the London Stock Exchange and others would be a major victory for the Great North exchange operator. It would raise significant revenue, boost cross border trading, and earn the exchange global recognition.

"I don't think the door is ever closed," Eccleston told Reuters in an interview on the sidelines of TMX's annual general meeting in Toronto recently.

"I don't think wherever Aramco does initially list will be the only place ... I don't think we're ever out of the game," he said, adding that TMX was "constantly talking to Aramco".

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