Royal Bank, others plan new Canadian stock exchange
(Reuters) - A group of Canadian companies including Royal Bank of Canada (RY.TO: Quote) plans to set up a new stock exchange to cater to retail and institutional investors who they say have been short-changed by predatory high-frequency trading practices.
Aequitas Innovations Inc, the corporate entity behind the project, said it aims to provide services for companies ready for public listing and will have fee structures to reduce costs for investors, issuers and dealers.
"Through Aequitas, we have a compelling opportunity to create a level playing field for both retail and institutional investors ...," said Greg Mills, chairman of Aequitas and co-head of global equities at RBC Capital Markets.
(Reporting by Bhaswati Mukhopadhyay in Bangalore)
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