Business
Trading volume in first quarter of 2008
MONTREAL, April 4 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX : MXX) reported today that its ...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, April 4 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX : MXX)\nreported today that its average daily trading volume was 164,686 contracts in\nthe first quarter of 2008, ended March 31, 2008. This was a decrease of 12%\ncompared to the same period of 2007 and an increase of 8% compared to the\nprevious quarter, ended December 31, 2007.\n\n\nThe combined trading activity on the two platforms operated by MX teams,\nsupporting the Montreal Exchange and the Boston Options Exchange (BOX),\nreached an average daily volume of 840,235 contracts in the first quarter, an\nincrease of 41% compared to the combined volume in the first quarter of 2007\nand a 9% increase from the previous quarter.\n\n\nMX HIGHLIGHTS\n\n\nThe growth of trading activity on the Montreal Exchange in the first\nquarter was driven primarily by an increase in average daily volume for equity\noptions, including ETF options, which reached 59,924 contracts, up 22% from\nthe first quarter of 2007. Average daily trading volume for the SXF, the S&P\nCanada 60 Index Futures contract, also grew rapidly to reach 18,549 contracts,\nan increase of 31% from the first quarter of 2007.\n\n\nThe strong growth of trading in equity options and index derivatives in\nthe first quarter of 2008 only compensated in part for decreases in trading\nactivity in two interest rate derivatives: the BAX, the Three-Month Canadian\nBankers' Acceptance Futures contract, and the CGB, the Ten-Year Government of\nCanada Bond Futures contract. Average daily trading volumes decreased 34% for\nthe BAX and 23% for the CGB compared with the first quarter of 2007. Difficult\nconditions in short-term debt markets in Canada have had a negative impact on\ntrading in the BAX and, to a lesser extent, the CGB in recent quarters.\n\n\nTrading activity in the BAX category did increase on a quarter-to-quarter\nbasis. Average daily volume for this short-term interest rate future increased\n22% in the first quarter compared with the previous quarter, ended December\n31, 2007. The average daily volume of BAX trading reached 54,005 contracts in\nthe first quarter of 2008 from the average 44,106 contracts traded in the\nprevious quarter.\n\n\nBOX HIGHLIGHTS\n\n\nThe average daily trading volume on the Boston Options Exchange grew\nstrongly to reach 675,549 contracts in the first quarter of 2008, an i...