Montreal Exchange Inc., a wholly-owned subsidiary of TMX Group Inc., today announced that it has successfully launched the SXMTM Mini Futures contract on the S&P/TSX 60™ Index.
The SXMTM Mini Futures contract represents one quarter of the value of the current S&P/TSX 60TM Index Standard Futures contract (SXFTM), offering a smaller capital alternative.
The contract provides a new trading opportunity that can be used by a wide range of investors, including individual investors, who may find it particularly attractive due to its small notional size.
“We are very pleased to further diversify our product offering with the introduction of the new SXMTM Mini Futures contract,” said Alain Miquelon, President, Montreal Exchange. “The SXMTM contract was designed with retail investors in mind, and we are pleased to offer a new product geared towards this market segment.”
Trading of the SXMTM Mini Futures contract commences with the June 2011 contract (M11), with regular quarterly expiries going forward. The contract trades during an early session from 6:00 a.m. - 9:15 a.m. (ET), and a regular session from 9:30 a.m. – 4:15 p.m. (ET). The contract is cash settled against the opening level of the underlying S&P/TSX 60TM on the third Friday of the expiration month.
For more information about the SXM™ Mini Futures contract, please visit: www.m-x.ca