Montréal Exchange extends access to UK

Bourse de Montréal, the Montréal Exchange, yesterday said that brokers in the UK will now have direct access to its market and products, following discussions with the Financial Services Authority (FSA), the regulatory authority in the UK.

"Our strategy is to build on the expertise developed throughout our transformation as an electronic exchange and extend access to our products to the most important markets," said Luc Bertrand, president and chief executive of the Montréal Exchange.

"Earlier this year, we established our presence in the US through our participation in the creation of a new electronic options exchange, the Boston Stock Exchange. We also extended access to US dealers and brokers for the trading of futures contracts and options on futures contracts,” Bertrand added.

Firms located in the UK will be able to connect to the Montréal Exchange's trading platform and trade all its products, after obtaining their 'foreign approved participants' designation from the exchange.

"Direct access to these markets provides the Montréal Exchange with development opportunities abroad, and generates more liquidity in the Canadian derivatives market, an essential quality that benefits all users of the Montréal Exchange," Bertrand said.