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Montréal Exchange Extends Access To United Kingdom

Date 17/12/2002

Bourse de Montréal Inc. ("Montréal Exchange") announced today that brokers located in the United Kingdom will now have direct access to its market and products.

Following discussions with the Financial Services Authority (FSA), the regulatory authority in the UK, it was established that the Montréal Exchange is authorized to offer UK brokers direct access to the Montréal automated trading system.

"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 CEO of the Montréal Exchange.

"Earlier this year, we established our presence in the United States through our participation in the creation of a new electronic options exchange, the Boston Options Exchange (BOX). We also extended access to U.S. dealers and brokers for the trading of futures contracts and options on futures contracts. Now, reaching brokers in the United Kingdom will allow the Montréal Exchange to pursue its development in one of the largest financial market in the world."

"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," concluded Mr. Bertrand.

Firms located in the United Kingdom will be able to connect to the Montréal Exchange's trading platform and trade all its products, after obtaining their Foreign Approved Participants designation.