Montréal Exchange Extends Trading Hours to Asia Pacific Time Zones
September 19 2021 - 7:00PM
Business Wire
Canada’s Derivatives Exchange further expands
global reach, syncing trading hours with Asia Pacific markets in
support of growing investor demand
Montréal Exchange (MX), Canada’s derivatives exchange, today
launched the next phase of its extended trading hours initiative,
offering investors in the Asia Pacific region the opportunity to
manage their exposure to Canadian markets and execute cross-market
strategies in their local time, almost 24 hours a day.
"We are extremely excited to launch this new phase of MX's
globalization strategy, as we continue to push the evolution of our
markets and address the increasing global demand for Canadian
derivatives," said Luc Fortin, President and Chief Executive
Officer of MX and Global Head of Trading, TMX Group. “In keeping
with the trend of global capital flows, pension funds in Asia have
significantly increased their international exposure and we are
encouraged by the strong engagement we have seen from investors and
participants in the region to date. Canada offers a compelling
value proposition for investors and around the world: access to
highly-liquid, world-class markets and a leading global economy. As
we move forward, extended trading hours better aligns MX with our
global peers, increases international visibility and connects us to
more clients.”
Following the successful launch of MX’s extended hours
initiative in 2018 with trading on London time, international
investors now have increased access to Canada’s markets. The
availability of MX’s products during Asia's business hours will
enable investors and risk managers to trade Canada’s benchmark
products on a relative value basis against additional markets,
including Australia and Japan. The extended trading hours
initiative is also intended to accelerate MX’s global expansion
plans, by diversifying its client base and developing new centers
of liquidity.
Trading sessions open at 8:00 p.m. (t-1) ET (with a 7:30 p.m.
(t-1) ET pre-open) and close at 4:30 p.m. ET.
Designed as a trading and risk management solution for investors
around the world, extended trading hours enables international
clients expanded access to MX’s full suite of interest rate
derivatives products, ranging from the 3-month CORRA Futures (CRA)
and the Three-Month Canadian Bankers' Acceptance Futures (BAX), to
the Government of Canada bond futures benchmarks, including the
2-Year (CGZ), 5-Year (CGF) and 10-Year (CGB) contracts, as well as
equity derivatives products such as the S&P/TSX 60 Index*
Standard Futures (SXF).
For additional details, please visit MX Extended Hours.
About TMX Group (TSX: X)
TMX Group operates global markets, and builds digital
communities and analytic solutions that facilitate the funding,
growth and success of businesses, traders and investors. TMX
Group's key operations include Toronto Stock Exchange, TSX Venture
Exchange, TSX Alpha Exchange, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, and Trayport which provide listing markets, trading
markets, clearing facilities, depository services, technology
solutions, data products and other services to the global financial
community. TMX Group is headquartered in Toronto and operates
offices across North America (Montréal, Calgary, Vancouver and New
York), as well as in key international markets including London and
Singapore. For more information about TMX Group, visit our website
at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
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version on businesswire.com: https://www.businesswire.com/news/home/20210919005017/en/
Catherine Kee Senior Manager, Corporate Communications &
Media Relations TMX Group 416-814-8834 catherine.kee@tmx.com
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