Abstract:
In this paper we will discuss about the Montreal Exchange (ME). As the name suggests, it is situated in Montreal, Canada. At the end of 2001, ME completed its transition from an open outcry, which was the traditional method, environment to an electronic one. Montreal Exchange and Toronto Exchange merged in 2007.
Montreal Exchange (ME), previously known as the Montreal Stock Exchange, facilitates the futures and options trading. It is situated in Montreal, Canada.
It was established in 1832. Since 1965, the ME's headquarter had been located in the third tallest high rise of Montreal, the Tour de la Bourse or Stock Exchange Tower.
In 1982, the Montreal Stock Exchange was renamed as Montreal Exchange. The reason behind the change was to show the increasing importance of several alternative, that is, other than stocks, financial instruments like, futures and options on the trading floor.
- In 1999, the Montreal Exchange initiated the process of capital market reform in Canada along with Alberta, Vancouver and Toronto Exchange. The aim of this venture by ME was to secure its position as a Derivatives Exchange in Canada for the next 10 years.
- In the beginning of 2002, ME shifted the futures and options trading system from an open outcry method to fully electronic.
- In 2004, Montreal Exchange became the only exchange who was providing electronic trading systems to the Boston Options Exchange.
- The merger between Toronto Stock Exchange, a division of the TSX Group Inc., and Montreal Exchange took place at the end of 2007.
