The Montréal Exchange Extends Trading Platform Access to The United States
A wide range of Canadian derivatives will now be available to U.S. dealers and brokers
MONTREAL, March 5 /CNW/ - Bourse de Montréal Inc. ("Montréal Exchange") today announced that it has obtained approval from the U.S. Commodity Futures Trading Commission (CFTC) to offer American dealers and brokers access to its electronic trading platform, the Montreal Automated System ("SAM"), for the trading of futures contracts and options on futures contracts.
The CFTC has granted Bourse de Montréal Inc. no-action relief, provided it complies with the usual terms set by the American commission.
"U.S. dealers and brokers will now have access to Canadian derivatives which to date have not been readily available," stressed Luc Bertrand, President and CEO of Bourse de Montréal Inc. "From now on, they can place orders for their proprietary accounts or their U.S. customers and complete their transactions with the Montréal Exchange, using their own terminals, from any business location in the United States."
American brokers and dealers, Futures Commission Merchants (FCM) registered with the CFTC and participants benefiting from relief pursuant to CFTC rules ("Rule 30.10") will be able to, respectively, trade directly on SAM for their proprietary accounts, trade for their U.S. customers, and accept orders from their U.S. customers through automated order routing systems for submission to SAM. These participants will first have to be admitted as Approved Participants of Bourse de Montréal Inc.
"For the Montréal Exchange, access to the American market definitely offers increased potential for development. This news, while independent of our recently announced partnership to set up an electronic exchange for United States securities options, further adds to the Bourse's visibility, both on the Canadian and the U.S. markets," concluded Mr. Bertrand.
BOURSE DE MONTREAL INC.
Bourse de Montréal Inc. was founded in 1874. It is Canada's oldest exchange and the first Canadian exchange to list securities options and to establish a major futures market. Today, the Montréal Exchange is fully electronic and offers both individual and institutional investors a wide range of equity, equity index and interest rate derivative products. It also offers clearing services through its subsidiary corporation the CANADIAN DERIVATIVES CLEARING CORPORATION (CDCC). Additional information can be found at www.boursedemontreal.com.
For further information
Jean-Charles Robillard, BOURSE DE MONTREAL Inc., (514) 871-3551, jcrobillard@boursedemontreal.com |
