The Montreal Exchange Receives U.S. Approval To Sell Futures Contracts On S&P Canada 60 Index

The Montreal Exchange has received approval from the Commodities Futures Trading Commission (CFTC) to trade its futures contracts on the S&P/TSE 60 Index in the United-States. The authorization is effective immediately. "This authorization is a major step in our business plan. The United-States is an important market for the growth of the Montreal Exchange. With this approval, we can now offer American investors another new Canadian product of international calibre," said Gérald A. Lacoste, President and Chief Executive Officer of the Montreal Exchange. The Montreal Exchange launched its S&P/TSE 60 index futures and options contracts on September 7, 1999. These already successful new contracts (average daily volume of 2,426 contracts and record sales of 12,331 contracts on December 8th), are offered under an agreement with Standard & Poor's, and are part of a range of products based on the S&P/TSE 60 index, including a long-term options class.