MONTREAL, Oct. 5 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX) announced today that it has filed for regulatory approval of market rules designed to govern the trading of Montreal Climate Exchange (MCeX) environmental products on its electronic trading platform, SOLA(R), namely futures contracts on Canadian carbon dioxide equivalent units.
The rules were filed with the Autorite des marches financiers (Quebec). The regulatory process provides for a 30-day public comment period on the MX filing.
The regulatory filing is a key step forward in the plan, announced July 25 by MX, to launch trading in a MCeX carbon futures contract. MCeX is a joint venture of the MX and the Chicago Climate Exchange(R) (CCX).
The MCeX partners have taken a decision to launch trading in futures products based on an assessment of the federal government's air emissions policy released in April 2007 and consultations with potential market participants, including large industrial emitters.
About Montreal Exchange Inc.
The Montreal Exchange (MX) is Canada's financial derivatives exchange. The MX offers trading in Canadian interest rate, index and equity derivatives. Clearing, settlement and risk management services are provided by an AA rated clearing house, the Canadian Derivatives Clearing Corporation, fully owned by the MX. Our integrated trading and clearing services are supported by a proprietary suite of exchange technologies, known as SOLA(R). The MX also has interests in: the Boston Options Exchange (BOX), a U.S. automated equity options market, for which MX is the technical operator; the Canadian Resources Exchange (CAREX), a new corporation created with NYMEX that is dedicated to developing the Canadian energy market; and the Montreal Climate Exchange (MCeX), a joint venture with the Chicago Climate Exchange(R), aiming to establish the leading market for publicly traded environmental products in Canada. For more information about the Montreal Exchange, please visit www.m-x.ca.