Business
MX obtains regulatory approval of market rules - Milestone in launch of MCeX carbon futures on May 30, 2008
MONTREAL, April 29 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX) welcomed today a decisio...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, April 29 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)\nwelcomed today a decision granting regulatory approval of the market rules\nthat will govern the trading of Montreal Climate Exchange (MCeX) environmental\nproducts, namely futures contracts on Canada carbon dioxide equivalent\n(CO2e) units.\n\n\nThe ruling was announced earlier in the day by the lead regulator of MX,\nthe Autorite des marches financiers (AMF).\n\n\n"This decision is much appreciated since it enables the MX team to stay\non the critical path leading to the launch of trading in carbon futures at the\nend of May," said Luc Bertrand, MX President and Chief Executive Officer. "It\nis a milestone for us in creating the leading public market for environmental\nproducts in Canada."\n\n\n"I would like to acknowledge the contribution of the MX team that\ndeveloped the market rules as well as the valuable work of the AMF in\nsubjecting them to a critical review process," Mr. Bertrand added.\n\n\nThe target date for the launch of trading in MCeX futures contracts is\nMay 30, 2008, as previously announced. The market rules commit MX to operate a\ntransparent, secure and liquid market that earns the confidence of traders,\ninvestors and market participants. Futures contracts based on Canada\nCO2e units will be traded on the MX electronic trading platform, SOLA(R). MX\nwill settle and guarantee contracts through its clearing house, the Canadian\nDerivatives Clearing Corporation, which is AA rated by Standard and Poor's.\n\n\nAbout the Montreal Climate Exchange\n\n\nThe Montreal Climate Exchange (MCeX), a joint venture of Montreal\nExchange Inc. and the Chicago Climate Exchange(R), aims to establish the\nleading market for publicly traded environmental products in Canada.\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. auto...