Business
MX and the Canadian financial market
MX and the Canadian financial market.
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 12 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX) -\nLuc Bertrand, President and Chief Executive Officer of the Montreal Exchange,\nmade the following comments today at the Financials Summit 2007 Conference.\n\n\nSince the 1999 agreement, signed with the TSX, MX has focused on Canada's\nposition in global capital markets and has undertaken a number of key\ninitiatives and transactions as part of our growth strategy.\n\n\nMX has accomplished several key milestones:\n\n\n - The MX became fully electronic in 2001\n\n - We were a Founding partner of the Boston Options Exchange ("BOX"),\n launched in 2004 and we have since announced a transaction to purchase\n an additional 13.3% stake in BOX from the Boston Stock Exchange\n\n - MX successfully implemented SOLA(R) Trading at MX in 2005 and at BOX\n in 2006\n\n - MX formed the Montreal Climate Exchange (MCeX) in a Joint Venture with\n the Chicago Climate Exchange\n\n - MX formed a strategic alliance with NYMEX to launch a Canadian natural\n resource-focused derivatives exchange (CAREX) and sold a 10% stake in\n MX to NYMEX\n\n - MX listed its securities for trading in March 2007.\n\n\nAll of these milestones highlight the MX's continued focus on developing\nand growing the derivatives business in Canada.\n\n\nConscious of the upcoming expiration of the contractual standstill in\n2009, MX has, in the past, initiated direct discussions with the TSX\nconcerning the future shape and organization of the capital markets in Canada,\nbearing in mind our mandate to ensure the public interest in the efficiency\nand integrity of the Canadian Capital Markets. There are no discussions taking\nplace at the present time.\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 Resourc...