The chairman of the Alberta Securities Commission (ASC) has been named to head the merged Alberta and Vancouver stock exchanges, with trading scheduled to begin Nov. 29.
William Hess, who has held top spot at the Edmonton-based ASC since 1992, was appointed president of the proposed Canadian Venture Exchange by a committee formed of the board members of the ASE and VSE. The exchange will be managed from Calgary, with regional offices in Winnipeg, Toronto and Montreal. All trading and administrative duties will be handled out of Vancouver.
At the end of November, members of the ASE and VSE will vote on the proposed merger. The boards of both exchanges have recommended that members accept the plan.
If approved, Hess’s appointment will take effect Nov. 29, the day the merger becomes official.
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