TSX buys stake in MinesOnline

The owner of the Toronto Stock Exchange, TMX Group, has bought a 50 per cent interest in MinesOnline, a West Australia-based company that connects buyers and sellers of mining assets and projects around the world.

The investment will bring together MinesOnline's network of global mining companies and Toronto Stock Exchange and TSX Venture Exchanges' international network and issuer base.

TSX markets president Kevan Cowan said he looked forward to working closely with MinesOnline and its parent company, Perth-based PCF Capital.

"This relationship will work to enhance value to mining companies, particularly in the face of increasing globalization and strong growth within the mining sector," Mr Cowan said.

TMX Group's purchase is another step in the ongoing consolidation of major stock exchanges around the world.

Earlier this week, the TMX Group announced it had launched merger plans with the London Stock Exchange Group.

The London Stock Exchange Group operates the Italian stock exchange Borsa Italiana and also holds a stake in FTSE International, which manages over 100,000 equity, bond and hedge fund indexes.

Also, the New York Stock Exchange is in advanced merger talks with its German counterpart, Deutsche Boerse over the Euronext market.

The NYSE merged with Euronext in 2006, while at the same time, the Nasdaq attempted to purchase the London Stock Exchange.

Euronext was created in 2000 as a merger of the Amsterdam, Brussels, Paris and Portuguese exchanges, and became the world's first global exchange when acquired by NYSE.

Under terms of the latest tie-up, Deutsche Boerse would hold 59 to 60 per cent of Euronext and the headquarters would remain in New York City and Frankfurt.

The sweeping consolidation among global stockmarket operators first reached Australian shores in October, when the Singapore Exchange flagged an $8.4 billion move on the Australian Securities Exchange.