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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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From: TFF2/15/2007 9:37:18 AM
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Montreal Exchange to list publicly, NYMEX buys 10% Stake
Wed Feb 14, 11:17 AM ET


MONTREAL (Reuters) - The Montreal Exchange said on Wednesday it expects to list its shares on the Toronto Stock Exchange by April, and it unveiled an energy derivatives trading partnership with NYMEX.


The Montreal Exchange, which is Canada's key exchange for financial derivatives trading, said it expects to file a prospectus on the share "listing without offering" in the near future. The Exchange also plans to split its shares 3-for-1.

Its ticker symbol will be MXX.

The exchange also said it formed a partnership with the New York Mercantile Exchange, a commodities exchange, to provide trading and clearing of exchange-traded and over-the-counter crude oil, natural gas and electricity products. They plan to form a new Canadian corporation that will be based in Calgary, Alberta.

NYMEX will take a 10 percent stake in the Montreal Exchange.

The Montreal Exchange said its revenues rose 25 percent to reach C$79.3 million ($67.8 million) in 2006 compared to the previous year.
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