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A TMX Group sign, the company that runs the Toronto Stock Exchange (TSX) is seen in this file photo.© Mark Blinch / Reuters

TMX Group Ltd. has appointed Nicholas Thadaney, president and CEO, global equity capital markets effective Sept 1. Mr. Thadaney was formerly the CEO of brokerage firm ITG Canada Corp. He had been with the firm for the past 15 years.

ITG Canada is a part owner of the Aequitas NEO Exchange, a direct competitor to the TMX Group. In late March, Aequitas NEO launched but so far has only built up minimal market share. Its founders are believed to be disappointed that more inroads have not been made sooner against the TMX.

Mr. Thadaney will be responsible for equities trading and listings for the exchanges run by the TMX.

"Nick will bring an entirely fresh approach to the equities business" said Lou Eccleston, CEO of TMX Group in a press release.

Mr. Thadaney is replacing Kevan Cowan who had been in the position since 2008. TMX announced Mr. Cowan's sudden departure earlier in the week. Mr. Cowan was not reachable for comment on why he left and TMX did not provide much detail beyond saying that he left to "pursue other opportunities".

Another senior TMX staffer is leaving the firm soon. Brenda Hoffman, group head of information technology, will depart the firm at the end of the month.

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