CRA was retained by the Maple Group to analyze the potential competitive effects of combining the TMX Group, the Canadian Depository for Securities and Alpha Trading Systems, a large alternative trading system in Canada. In addition to making submissions to the Competition Bureau, CRA’s experts also assisted counsel in their interactions with the Ontario Securities Commission. Regulators ultimately approved the transaction after Maple made certain commitments.
Assessing umbrella pricing incentives
When collusive agreements involve a subset of firms in an industry, they may create the incentive and ability for firms that are not participants in the cartel...