Tom Kloet, chief executive of TMX, will join BSX's board after buying a 16% stake.
TMX Group, a Canada-based operator of the Toronto Stock Exchange, has acquired a 16% stake in peer Bermuda Stock Exchange for an undisclosed amount.
Tom Kloet, chief executive of TMX, will join BSX’s board.
Greg Wojciechowski, president of BSX, said: "Canada and Bermuda share a long history and important jurisdictional ties, this strategic investment can only strengthen this long standing relationship."
A Tax Information Exchange Agreement was signed between the two countries earlier this year, effective July 1.
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