Definition of Montreal Exchange (MX)

Canada's oldest exchange and the only financial derivatives exchange in the country. MX offers individual and institutional investors, both in Canada and abroad, a wide range of risk management products for protecting their investments and ensuring growth. MX is fully electronic and its services include trading, clearing, training, market information, market operations, and regulations. MX operates a stock options market as well as a futures market. There are more than 88 options classes (regular and long-term expiry cycles) listed on MX. The Montreal Exchange is also a significantshareholder of the Boston Options Exchange (BOX), a U.S. automated equity options exchange whose technical operations are ensured by the Montreal Exchange. With MX interest rates products, investors have access to a wide range of strategies on the yield curve. The BAX is the benchmark for Canadian short-term interest rates. The CGB and CGZ offer investment opportunities for investors in the fields of portfolio enhancement and arbitrage and can be used as a risk management tool. The ONX futures contract can be used as an indicator of Canadian interest rate movements. Options on BAX (OBX) are also available. The SXF, an index future, and the SXO, an index option-both based on the S&P/TSX 60 Index-offer investors a wide variety of strategies and approaches to managing equity portfolios while maintaining portfolio integrity. Index futures based upon select sectors of the Canadian economy are also available. The Exchange also offers options based on Barclays iUnits Sector Funds. Trading hours for options are: 9:30 A.M. to 4:15 P.M. Trading for futures is from 6 A.M. to 4:15 P.M. www.m-x.ca.