MEMX LLC, an exchange operator co-founded by trading firm Jane Street, is set to combine with equity options market BOX. This strategic move will place control of the newly merged entity in the hands of TMX Group, Canada's premier stock exchange operator.

Jane Street, alongside other prominent financial institutions like Morgan Stanley, had been a significant backer of MEMX. The combination with BOX aims to create a more robust and diversified trading venue, leveraging the strengths of both organizations.

TMX Group's acquisition of control signifies a major development in the exchange landscape. The deal is expected to enhance market competition and offer new opportunities for participants. Further details regarding the transaction's structure and regulatory approvals are anticipated.