“The world is looking to trade more and more Canada and the fact that we’re only open during our own time zone is a bit prohibitive for some of the international clients.”
Last year, Montréal Exchange launched single stock futures and it turned out to be its best product launch in a decade based on rapidly growing open interest. The exchange also revamped its 5-year bond contract in order to make sure all points on the curve are accessible. With those changes in place, 2017’s goals center around structural change.
MX is altering its own rules to open its market making programs for more types of firms. But the biggest lift for MX, according to President and CEO Luc Fortin, is extending the exchange’s hours to align with London open. Partnering with an exchange in Asia to list MX’s products is also a possibility for the future. On top of that, clearing consolidation is in the works with an outside party and the group is looking at the best means of building a new trading system.