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Montreal Exchange completes acquisition of majority ownership interest in Boston Options Exchange
Transaction Gives TMX Group Bigger North American Footprint in Equity Options MONTREAL, Aug. 29 /...
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[{"type":"text","content":"\n\n\n\nTransaction Gives TMX Group Bigger North American Footprint in Equity\n\n\nOptions\n\n\nMONTREAL, Aug. 29 /CNW Telbec/ - Montreal Exchange Inc. (MX), a TMX\nGroup Inc. company (TSX-X), announced today that it has completed an\nacquisition giving it a majority ownership interest of 53.2% in the Boston\nOptions Exchange Group, LLC (BOX), recognized as one of the most innovative US\nequity options exchanges.\n\n\nThe MX acquired a 21.9% ownership position from another senior BOX\npartner, the Boston Stock Exchange, Inc. (BSE), as agreed in December 2007.\nThe transaction was approved on August 7, 2008 by the BOX regulator, the\nUnited States Securities and Exchange Commission (SEC). Regulatory services to\nBOX will continue to be provided through BOXR, a wholly-owned subsidiary of\nthe BSE.\n\n\n"Increasing our investment in BOX grows from confidence in our strategy\nof expanding our presence in the US equity options market, one of the most\ndynamic derivatives markets in the world," said Luc Bertrand, Deputy CEO of\nthe TMX Group, and President and CEO of the Montreal Exchange. "We continue in\nour key role as technical operator and technology developer for this\ninnovative automated market."\n\n\nAbout the Boston Options Exchange\n\n\nThe Boston Options Exchange Group, LLC (BOX) was established in February\n2002. BOX is an all-electronic equity derivatives market and was created as an\nalternative to the existing market models. BOX launched trading in February\n2004. For more information, see the BOX website: www.bostonoptions.com.\n\n\nAbout Montreal Exchange Inc.\n\n\nSince May 1st, 2008, the Montreal Exchange is part of TMX Group Inc. TMX\nGroup is the leading integrated exchange group in Canada, operating markets\nfor multiple asset classes.\n\n\nThe Montreal Exchange (MX) is the Canadian derivatives exchange. MX\noffers trading in Canadian interest rate, index and equity derivatives.\nClearing, settlement and risk management services are provided by an AA rated\nclearing house. MX has interests in the Boston Options Exchange (BOX), a U.S.\nautomated equity options market, and the Montreal Climate Exchange (MCeX), a\njoint venture with the Chicago Climate Exchange(R), which aims to establish\nthe leading market for publicly traded environmental products in Canada. For\nmore information about the Mo...