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Montréal Exchange Inc. (MX) (TSX: MXX) – Luc Bertrand, President and Chief Executive Officer of the Montreal Exchange, made the following comments today at the Financials Summit 2007 Conference.
Since the 1999 agreement, signed with the TSX, MX has focused on Canada’s position in global capital markets and has undertaken a number of key initiatives and transactions as part of our growth strategy.
MX has accomplished several key milestones:- The MX became fully electronic in 2001
- We were a Founding partner of the Boston Options Exchange (“BOX”), launched in 2004 and we have since announced a transaction to purchase an additional 13.3% stake in BOX from the Boston Stock Exchange
- MX successfully implemented SOLA® Trading at MX in 2005 and at BOX in 2006
- MX formed the Montréal Climate Exchange (MCeX) in a Joint Venture with the Chicago Climate Exchange
- MX formed a strategic alliance with NYMEX to launch a Canadian natural resource-focused derivatives exchange (CAREX) and sold a 10% stake in MX to NYMEX
- MX listed its securities for trading in March 2007.
All of these milestones highlight the MX’s continued focus on developing and growing the derivatives business in Canada.
Conscious of the upcoming expiration of the contractual standstill in 2009, MX has, in the past, initiated direct discussions with the TSX concerning the future shape and organization of the capital markets in Canada, bearing in mind our mandate to ensure the public interest in the efficiency and integrity of the Canadian Capital Markets. There are no discussions taking place at the present time.
