The Board of Trade welcomes the AMF's decision to approve
the combination of the Montréal exchange and the TSX Group
Montréal, April 10, 2008 The Board of Trade of Metropolitan Montreal welcomes the decision of the Autorité des marchés financiers (AMF) relative to the proposed combination of the Montreal Exchange and TSX Group. Through clarifications that accompany this approval, the AMF has addressed concerns raised by the Board of Trade during public consultations on the matter. In the opinion of the organization, the conditions and commitments put forward by the AMF should allow the city to preserve its gains and remain in a good position to further develop them in the future.
For the Board of Trade, it is clear that in the proposal to combine the exchanges, Montréal is contributing true value and expertise to the alliance. The Montréal Exchange has developed a great know-how in the derivatives trading sector and, more recently, has become strategically positioned in the carbon market sector. The Board of Trade was therefore delighted to see that the regrouping process included provisions to allow the Montréal Exchange to remain the centre of expertise in the niches in which it is already doing well. We were also of the opinion that certain of these conditions had to be strengthened, and that it was the AMF's responsibility to play an active role as a watchdog over the new TMX Group. With the expected results it announced today, all seems to indicate that this is a role that the AMF willingly accepts, to the benefit of Montréal's ongoing trade expertise, stated the President and CEO of the Board of trade of Metropolitan Montreal, Isabelle Hudon.
The Board of Trade of Metropolitan Montreal has some 7,000 members. Its primary mission is to represent the interests of the business community of Greater Montreal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
Coordinator, Media relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015