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A lot of traders looked pretty bored and depressed in July thanks to a lack of business, and now the slowdown is showing up in the numbers of the TMX Group.

July's market doldrums, sparked by investors staying on the sidelines amid the European and American debt messes, weighed on TMX as it reported a slip in the volume and value of trading on the Toronto Stock Exchange in the month.

Friday, investors will get the final numbers for second quarter earnings at TMX, but the trading numbers may have investors in TMX looking beyond that. They suggest that the third quarter got off to a listless start for trading, which still generates a significant chunk of earnings at TMX.

TMX X-T said July TSX volume was down 2 per cent from July 2010, and the number of transactions fell 3 per cent.

Volumes on the company's energy trading platform also took a hit, dropping 9 per cent, year over year.

The bright spots in the month were the TSX Venture Exchange and the Montreal Exchange, though those are smaller businesses than the main board. Venture volumes were up 9 per cent, while Montreal volumes rose 77 per cent.

TMX recently ended its pact to merge with the London Stock Exchange Group plc and is now in talks with Maple Group, a consortium of Canadian banks and investors that came together to thwart the LSE plan.



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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 18/03/24 4:00pm EDT.

SymbolName% changeLast
X-T
TMX Group Ltd
+1.22%34.11

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