Business
Montreal Exchange in negotiations to increase ownership in BOX to a maximum of 53%
Montreal Exchange in negotiations to increase ownership in BOX to a maximum of 53%.
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Oct. 2 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)\nannounced today that it is engaged in negotiations aimed at increasing its\nownership position in the Boston Options Exchange (BOX) from 31.4% to a\nmaximum of 53.2%, subject to regulatory approval by the United States\nSecurities and Exchange Commission (SEC).\n\n\nMX had previously intended to increase its participation in BOX to 44.7%,\nfollowing an agreement to purchase a 13.3% stake signed in August 2006 with\nthe Boston Stock Exchange (BSE). The current intention is to acquire the\nentire 21.9% partnership interest in BOX held directly and indirectly by the\nBSE.\n\n\nEarlier in the day NASDAQ announced its intention to acquire the BSE,\nwhich is currently a partner in BOX. It should be noted that the regulation of\nthe BOX market will continue without interruption.\n\n\nWith the completion of the transaction, the BOX partners will be MX,\nCitadel, Citigroup, Credit Suisse First Boston, Interactive Brokers,\nJP Morgan, Morgan Stanley and UBS.\n\n\nMX became a founding partner and technical operator of BOX in 2002. BOX\nlaunched operations in February 2004 with a fully automated trading platform.\nBOX is recognized as one of the most technically advanced equity options\nexchanges competing in the US market.\n\n\nAbout Montreal Exchange Inc.\n\n\nThe Montreal Exchange (MX) is Canada's financial derivatives exchange.\nThe MX offers trading in Canadian interest rate, index and equity derivatives.\nClearing, settlement and risk management services are provided by an AA rated\nclearing house, the Canadian Derivatives Clearing Corporation, fully owned by\nthe MX. Our integrated trading and clearing services are supported by a\nproprietary suite of exchange technologies, known as SOLA(R). The MX also has\ninterests in: the Boston Options Exchange (BOX), a U.S. automated equity\noptions market, for which MX is the technical operator; the Canadian Resources\nExchange (CAREX), a new corporation created with NYMEX that is dedicated to\ndeveloping the Canadian energy market; and the Montreal Climate Exchange\n(MCeX), a joint venture with the Chicago Climate Exchange(R), aiming to\nestablish the leading market for publicly traded environmental products in\nCanada. For more information about the Montreal Exchange, please visit\nwww.m-x.ca.\n\n\n","length":239...