Bourse De Montréal Monthly Volume Record In September 2003 - Trading Up 23% Year-To-Date

Trading on the Montréal Exchange is showing solid growth, up 23% for the first nine months of 2003. As of September 30, the average daily volume reached 70,125 contracts compared to 57,230 contracts for the same period in 2002. On a daily basis, the nominal value traded on the Montréal Exchange surpasses the $20 billion mark.

A new monthly record was established in September, with 83,966 contracts traded, on average, on a daily basis. This record is mostly attributable to the level of transactions in equity options, which has grown by 27% over the same month last year. The equity options on Nortel Networks Corporation, Bombardier Inc., and ATI Technologies Incorporated were the most active during the month of September.

Records established on the Montréal Exchange since the beginning of 2003:

• February 25 - Record level of trading in a single day: 165,057 contracts;
• May 27 - New record level of trading in a single day: 217,757 contracts;
• June - Monthly volume record: 80,270 contracts traded daily on average;
• September - New monthly volume record: 83,966 contracts traded daily on average.

About the Montréal Exchange
Bourse de Montréal Inc. ("Montréal Exchange") is Canada's oldest exchange. It was the first Canadian exchange to list equity options and to establish a major futures market. Today, the Montréal Exchange is fully electronic. It offers both individual and institutional investors a wide range of equity, index and interest rate derivative products. Clearing services are offered through the Canadian Derivatives Clearing Corporation. The Montréal Exchange also offers training (e-learning and in-class) through the Derivatives Institute. For more information about the Montréal Exchange, please visit www.m-x.ca.