Montreal Exchange Members Vote in Favour of the Restructuring Program

At a Special Meeting of Members held today, representatives of the Montreal Exchange's member brokerage firms in a majority vote endorsed the market specialisation plan described in the Memorandum of Agreement proposed on March 15 of this year. Mr Gérald A Lacoste, President and Chief Executive Officer of the Montreal Exchange, announced that he was very pleased with the results of the vote and said that "Member support for this project is crucial and will help us meet the challenges of implementing the restructuring program. Today's vote reflects that market specialisation will prove extremely positive for all participants in the Canadian securities industry in the current context of globalisation of markets." Subject to approval by the regulatory authorities, the Memorandum of Agreement, which was submitted by Canada's four exchanges in March, proposes a reorganisation of the exchanges according to market sector strength.