The Financial Post reports in its Tuesday edition that MEMX, an exchange operator backed by Jane Street and Morgan Stanley, will combine with equity options market BOX in a deal that gives control of the merged entity to Canada's leading stock exchange group. The Post's Stephanie Hughes writes that the new MEMX Group is valued at $2.3-billion (U.S.), TMX Group announced Thursday. The Toronto-based company is investing $800-million (U.S.) in cash, plus its existing BOX stake, into the combination, and will hold a 59-per-cent interest. TMX chief executive officer John Mckenzie said Friday: "It's been a long road in terms of making this transaction come together because there are a lot of stakeholders in it. All of our biggest clients are active and massive in the United States. So this was a way for us to make sure we're serving clients on a North American basis." The deal represents the third acquisition for TMX in 2026. It agreed to buy Cboe Global Markets' Australian and Canadian units in April, and RAFI Indices in June. TD Cowen analyst Graham Ryding says the MEMX transaction adds to execution risk and pushes TMX's leverage 3.4 times debt to earnings before interest, taxes, depreciation and amortization.