Montréal Exchange Inc. (MX), #Canada‘s national derivatives exchange, announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved its application to register as a Foreign Board of Trade (FBOT). Under the Order, MX is permitted to provide its identified members and other participants located in the U.S. with direct access to MX’s electronic order entry and trade matching system.
The new FBOT status recognizes MX’s demonstrated ability to comply with the requirements of the applicable CFTC regulations. MX previously offered direct access pursuant to no-action letters issued by CFTC staff. This change does not directly impact MX’s existing clients.
“MX is very pleased to receive this approval from the CFTC,” said Alain Miquelon, President and CEO, Montréal Exchange and Group Head of Derivatives, #TMX Group. “Securing FBOT status will enable our U.S. clients to continue to participate directly in the ongoing expansion and evolution of our world-class markets.”
MX provides leading interest rate derivatives products and clearing services to the Canadian and international financial community. MX futures and options products cover major asset classes, including interest rates with a time horizon of one day to 30 years, equities, FX, and Canadian stock indices. Canadian Derivatives Clearing Corporation (CDCC), a wholly-owned subsidiary of MX, acts as the central clearing counterparty for exchange-traded derivative products in Canada and is designated by the Bank of Canada as subject to ongoing regulatory oversight. ! ;
MX is headquartered in Montréal, Quebec, with international offices in in New York, London and Singapore. MX is also the majority shareholder of the Boston Options Exchange (BOX).
For more information please visit http://www.m-x.ca/ and follow @MtlExchange on Twitter.
About TMX Group (TSX:X)
TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. #Toronto Stock Exchange, #TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in #Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets ( New York, Houston, Boston and Chicago) as well as in London, Beijing, Singapore and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.