Montreal Exchange reaches agreement to increase ownership in BOX to 53%

About this update from Stampede Drilling Inc.

[{"type":"text","content":"\n\n\n\nMONTREAL, Dec. 21 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)\nannounced today that it has reached an agreement to increase its ownership\nposition in the Boston Options Exchange (BOX) from 31.4% to 53.2%, subject to\nregulatory approval.\n\n\nUnder the terms of the agreement with the Boston Stock Exchange, a\npartner in BOX, MX will pay USD $52.5 million in cash for the 21.9%\npartnership interest in BOX held by the BSE. MX will finance the transaction\nfrom cash on hand. The transaction is subject to approval by the United States\nSecurities and Exchange Commission (SEC) and to other customary closing\nconditions.\n\n\n"This strategic investment will extend the footprint of the Montreal\nExchange in the North American equity options market," said Luc Bertrand,\nPresident and Chief Executive Officer of MX. "The agreement with our\nlongstanding US partner, the BSE, confirms our key role as technical operator\nand trading technology developer for this innovative US options market."\n\n\nThe agreement follows an earlier announcement, made October 2, 2007 that\nthe NASDAQ intends to acquire the BSE, excluding its partnership interest in\nBOX.\n\n\nWith the completion of the transaction, the BOX partners will be MX,\nCitadel, Citigroup, Credit Suisse First Boston, IB Exchange Corporation, JP\nMorgan, 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 the Canadian derivatives exchange. The 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, 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...

More updates from Stampede Drilling Inc.