Toronto stock exchange operator TMX Group revealed yesterday it has agreed a deal to buy a risk management technology firm. The announcement came as Canadian competition regulators outlined "serious concerns" over TMX's proposed tie-up with Maple, a consortium of local financial institutions.

TMX Group said it will pay C$10.2m or 3.49 cents per share for Sydney-headquartered Razor Risk Technologies, which provides credit risk software to clearing houses, stock exchanges, financial institutions and brokerages globally. The deal follows TMX's acquisition of European trading connectivity provider Atrium in August this year and further highlights the growing importance of technology for global exchanges attempting to diversify their revenue streams.