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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (11117)1/15/2004 1:58:03 PM
From: TFF  Read Replies (1) of 12617
 
Montréal Exchange - Montréal to be a key Player in the U.S. Equity Options Market
Wednesday January 14, 2:00 pm ET

MONTREAL, Jan. 14 /CNW Telbec/ - The U.S. Securities and Exchange Commission (SEC) has given the Montréal Exchange and its American partners the authorization to launch the Boston Options Exchange (BOX), a new American equity options exchange that is expected to begin operations before the end of this month. The Montréal Exchange will be the technical facilities manager of BOX.
"We knew we had an innovative strategy with great promise when the Montréal Exchange initiated the restructuring of the Canadian financial market in 1999 and started specializing in derivative trading," said Luc Bertrand, President and Chief Executive Officer at the Montréal Exchange and Chairman of the Board of BOX. "The wisdom of this strategy has been confirmed by two years of strong growth and our leadership of the BOX project."

"The transformation of the Montréal Exchange quickly captured the attention of our colleagues at the Boston Stock Exchange and its partner, Interactive Brokers, who were interested in implementing a new exchange for U.S. equity options," continued Mr. Bertrand. "The technology and market model introduced by the Montréal Exchange are unique in North America. They are the basis for BOX and position Montréal as a significant source of change in the American exchange landscape."

"BOX will allow the Montréal Exchange to participate and contribute to the largest equity options market - over 700 million equity option contracts are traded every year in the American market - and moreover, it provides the opportunity for Montréal to maintain and develop a unique expertise in the global derivative instruments industry," said Philippe Loumeau, Executive Vice-President, Markets and Business Development at the Montréal Exchange and Managing Director of BOX.
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