>>>Re: the TSE invoking the 'shot-gun' clause. Heh, heh. They tried this in the early 80's and Montreal handed them their ass. <<<
Porter, Dave S.
It looks like it worked this time. Do you see any advantages for the option traders?
>>>Multiple listing of new options begins on April 30 and multiple listing of existing options starts on Jan. 1, 1999. <<<
>>>Saturday, December 13, 1997
Montreal, Toronto reach agreement on
options
By ROBERT GIBBENS
The Financial Post
MONTREAL - The Montreal Exchange and the Toronto Stock Exchange have settled a two-month spat over control of the stock options market.
On Friday, they agreed to remain joint owners of the Canadian Derivatives Clearing Corp. (CDCC), which provides clearing and settlement in the options market. They had earlier bought the Vancouver Stock Exchange's interest.
A 14-year-old rule prevented the exchanges from listing the same options. The TSE wanted to list those offered exclusively by Montreal, but the ME feared a loss of volume. The TSE argued multiple listings were needed to improve liquidity.
The ME has 43 equity-based options listed, the TSE has 52.
The exchanges agreed the CDCC shareholder agreement should be clarified and trading barriers eliminated. Multiple listing of new options begins on April 30 and multiple listing of existing options
starts on Jan. 1, 1999. <<< |
