Legal burdens weigh on LSE-TMX 'London Bridge'

The blockbuster merger bridging the London and Toronto Stock Exchanges may have been announced, but this London bridge may yet fall under the sheer weight of staggering legal complexity. A broad group, from AIM to Borse Dubai, and from the Montreal Exchange to Borsa Italiana, stand to be affected by issues surrounding the London Stock Exchange's merger deal with Canadian exchange operator TMX Group.
And what a set of issues it is, ranging from post-Potash foreign investment concerns, to restrictive provincial securities laws, to undertakings regarding corporate governance. Even legacy contractual commitments from past acquisitions by the Toronto Stock Exchange (TSX) must be considered. Global markets affecting everything from equities to derivatives to venture funding await.
Of course, if it does stay standing, the London-Toronto structure, reported to be a $4 trillion transaction, would bridge not only the LSE and TSX, but also the venture-oriented AIM and TSX Venture Exchange, and significant foreign players including Borsa Italiana and Borse Dubai.