The Superior Court of Quebec dismisses action for damages from former MX independent traders

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[{"type":"text","content":"\n\n\n\nMONTREAL, March 3 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)\ntoday announced that in a judgment rendered on February 27, 2008, the Superior\nCourt of Quebec has dismissed with costs the action for damages filed by\n39 former independent traders holding restricted trading permits (the\n"locals") against the Montreal Exchange. The Superior Court confirmed that MX\nhad the right to automate its markets in 2000-2001, gave adequate advance\nnotice to traders about the automation, and implemented concrete measures to\nease the transition from open-outcry trading to electronic trading.\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 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":1685,"tagName":"div"}]

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