The Canadian Resources Exchange - CAREX - is created and
NYMEX becomes a shareholder of the Montréal Exchange
MONTREAL, March 23 /CNW Telbec/ - Montréal Exchange Inc. (MX), Canada's
financial derivatives exchange, today announced the creation, together with
NYMEX Holdings, Inc. (NYSE: NMX), the world's largest physical commodity
exchange, of Canadian Resources Exchange Inc., or "CAREX", the new MX-NYMEX
business venture dedicated to the Canadian energy market.
CAREX, a Canadian corporation, with its registered office in Montréal and
its principal place of business in Calgary, will, in the coming months, offer
trading and clearing services of Over-the-Counter (OTC) and on-exchange
futures and options contracts with financial or physical settlement relating
to Canadian-based energy (including natural gas, heavy crude oil and power),
metals and soft commodities. MX and NYMEX jointly funded CAREX with
In connection with the creation of CAREX, MX today closed the issuance
and sale of 3,097,718.334 newly-issued common shares to NYMEX, representing
10% of MX's outstanding share capital after giving effect to the issuance, at
an all-cash price of C$29 1/3 per share, for aggregate gross cash proceeds to
MX of approximately C$90.9 million.
MX placed the common shares in a private transaction exempt from the
registration requirements of the U.S. Securities Act of 1933, as amended. The
MX common shares have not been registered under the Securities Act of 1933,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
About Montréal Exchange Inc.
The Montréal Exchange (MX) is Canada's financial derivatives exchange.
The MX offers trading in Canadian interest rate, index and equity derivatives.
Clearing, settlement and risk management services are provided by an AA rated
clearing-house, the Canadian Derivatives Clearing Corporation, fully owned by
the MX. Our integrated trading and clearing services are supported by an MX
proprietary suite of exchange technologies, known as SOLA(R). The MX is a
significant owner and the technical operator of the Boston Options Exchange
(BOX), a U.S. automated equity options market. The Montréal Climate Exchange
(MCeX) - which aims to become the first regulated environment market in Canada
- is a joint venture of the Chicago Climate Exchange(R) and the MX. For more
information about the Montréal Exchange, please visit www.m-x.ca.
About NYMEX Holdings, Inc.
NYMEX Holdings, Inc. (NYSE: NMX) is the parent company of the New York
Mercantile Exchange, Inc., the world's largest physical commodities, offering
futures and options trading in energy and metals contracts and clearing
services for more than 250 off-exchange energy contracts. Through a hybrid
model of open outcry floor trading and electronic trading on CME Globex(R) and
NYMEX ClearPort(R) , NYMEX offers crude oil, petroleum products, natural gas,
coal, electricity, gold, silver, copper, aluminum, platinum group metals, and
soft commodities contracts for trading and clearing virtually 24 hours each
day. Further information about NYMEX Holdings, Inc. and the New York
Mercantile Exchange, Inc. is available on the NYMEX website at www.nymex.com.
All statements, other than statements of historical facts, included in
this news release are forward-looking statements or contain forward-looking
information. The forward-looking statements and forward-looking information
set forth above involve a number of risks and uncertainties that could cause
actual results to differ materially from any such statement, including the
risks and uncertainties discussed in MX's non-offering prospectus, dated March
23, 2007. The forward-looking statements speak only as of the date made, and
MX expressly disclaims any intention or obligation to update or revise any
forward-looking statements or forward-looking information, whether as a result
of new information, future events or otherwise, except as may be required by
For further information:
For further information: Jean Charles Robillard, (514) 871-3551,