The Montréal Exchange Announces a Strong First Quarter of 2007



    
    Highlights (Q1 2007 vs. Q1 2006)

        - Revenues of $21.9 million compared to $19.1 million, up 15%
        - Net earnings of $5.6 million compared to $4.9 million, up 13%
        - Adjusted net earnings of $7.6 million compared to $5.5 million,
          up 38%
        - Diluted earnings per share of $0.20 compared to $0.18
        - Adjusted diluted earnings per share of $0.27 compared to $0.20
        - Average daily trading volume up 26%

    NOTE TO EDITORS: ALL REFERENCES TO EARNINGS PER SHARE AND DIVIDENDS PER
    SHARE HAVE BEEN RESTATED TO REFLECT THE THREE-FOR-ONE STOCK SPLIT THAT MX
    EFFECTED ON MARCH 15, 2007. ALL DOLLAR AMOUNTS IN THIS PRESS RELEASE ARE
    STATED IN CANADIAN DOLLARS.
    

    MONTREAL, April 24 /CNW Telbec/ - Montréal Exchange Inc. (TSX: MXX)
announced today its financial results for the first quarter ending March 31,
2007.
    Revenues for the first quarter reached $21.9 million representing an
increase of 15% compared to $19.1 million for the first quarter 2006, due
principally to increased market trading volumes. The average daily trading
volume was up 26% year-over-year.
    Net earnings for the first quarter 2007 increased 13% to $5.6 million
compared to $4.9 million for the first quarter 2006. Adjusted net earnings for
the first quarter 2007, excluding a $2.1 million charge net of tax relating to
non-recurring professional fees in connection with the preparation of our
non-offering prospectus and the listing of our shares, increased 38% to
$7.6 million compared to $5.5 million for the first quarter 2006, excluding a
$0.6 million charge net of tax relating to legal settlements in connection
with the closing of our trading floor.
    "We are pleased with this quarter's results which represent another
strong period in our continued growth in the derivatives business," commented
MX President and Chief Executive Officer, Luc Bertrand. "There is a very
positive operating environment for the derivatives industry in Canada and
globally. The Montréal Exchange is a key player with leading-edge technology
and excellent growth opportunities from our strategic alliances: BOX, MCeX and
CAREX."
    "This has been a momentous quarter for us," added Mr. Bertrand, referring
to significant recent developments that occurred during the first quarter of
2007.

    
    Recent Developments:

    - On March 13, 2007, MX and NYMEX Holdings Inc. ("NYMEX") entered into an
      agreement whereby NYMEX purchased on March 23, 2007, 3,097,718 newly-
      issued MX common shares, representing 10% of MX's outstanding share
      capital after giving effect to this issuance, for $29 1/3 per common
      share, totalling net proceeds of $89.7 million (net of transaction
      fees).

    - As part of this agreement, MX and NYMEX created a business venture,
      called Canadian Resources Exchange Inc. ("CAREX"), for the trading and
      clearing of different energy products in the Canadian market. Under the
      terms of this agreement, MX and NYMEX each invested $2.0 million in the
      new entity in order to fund initial working capital requirements. MX
      and NYMEX will share CAREX's net earnings equally and control will be
      exercised jointly.

    - On April 12, 2007, MX paid a special dividend of $0.33 1/3 per common
      share ($9.3 million in aggregate) to shareholders of record on
      March 22, 2007.

    - MX's Board of Directors approved a normal course issuer bid, starting
      on March 23, 2007 and ending on March 22, 2008, to purchase, in the
      normal course of activities, up to 2,412,143 MX common shares.

    The Q1 2007 Quarterly Report is available on the MX website at www.m-x.ca
    and the SEDAR website at www.sedar.com.

    Investor / Media Conference Calls / Webcast Details

    The Montréal Exchange will hold its first conference call as a
publicly-traded company to discuss first quarter 2007 results on April 25,
2007 at 8:30 a.m. (Eastern). An investor presentation will be available on the
MX website at www.m-x.ca, in the News section. Those wishing to participate in
the conference call can dial the following:

    April 25 at 8:30 a.m.:      Financial analysts' teleconference

    In English:                 514 868-1042
                                1 866 898-9626 (toll-free in North America)

    In French:                  514 861-0443
    (simultaneous translation)  1 866 696-5911 (toll-free in North America)

                                Replay:
                                A replay will be available until Wednesday,
                                May 2, 2007. To access the replay, please
                                dial 514 861-2272 or 1 800 408-3053.
                                For English, enter passcode
                                3219928#.
                                For French, enter passcode
                                3219929#.

    This teleconference will be Webcast live and archived for 90 days on the
    MX website: www.m-x.ca.

    The Montréal Exchange will also hold a teleconference with the media on
Wednesday, April 25 at 11:00 a.m. (Eastern).

    April 25 at 11:00 a.m.:     Media teleconference

    In English and              514 861-7241
    French:                     1 866 542-4237 (toll-free in North America)

                                Replay
                                A replay will be available until Wednesday,
                                May 2, 2007. To access the replay, please
                                dial 514 861-2272 or 1 800 408-3053 and enter
                                passcode 3219930#.
    

    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 a
proprietary suite of exchange technologies, known as SOLA(R). The MX also has
interests in: the Boston Options Exchange (BOX), a U.S. automated equity
options market, for which MX is the technical operator; the Canadian Resources
Exchange (CAREX), a new corporation created with NYMEX that is dedicated to
developing the Canadian energy market; and the Montréal Climate Exchange
(MCeX), a joint venture with the Chicago Climate Exchange(R), that aims to
become the first regulated environment market in Canada. For more information
about the Montréal Exchange, please visit www.m-x.ca.

    Non-GAAP Performance Measures

    Adjusted net earnings and adjusted diluted earnings per share are
financial measures not recognized by or calculated in accordance with Canadian
generally accepted accounting principles. Please refer to MX's 2007 first
quarter Management Discussion and Analysis dated April 24, 2007 for more
details including a reconciliation of these non-GAAP measures to the most
comparable GAAP measures.

    Forward Looking and Cautionary Statements

    Certain statements in this document may contain forward-looking
information. This forward-looking information is based on current
expectations, estimates, forecasts and projections about the industry in which
we operate, as well as certain assumptions made by our management. Although we
believe that the expectations and assumptions reflected in this
forward-looking information are reasonable, forward-looking information
involves known and unknown risks and uncertainties and is not a guarantee of
future performance. Factors that could cause actual results to differ
materially from those contemplated by this forward-looking information
include, but are not limited to, risks associated with general market and
economic conditions, evolving national and international competition,
concentration of credit risk, credit risk and clearing house risk, reliability
of information systems and regulatory risk. We caution you that this list of
factors is not exhaustive. A description of these factors and certain
additional risk factors are discussed in our non-offering prospectus, dated
March 23, 2007. Given the uncertainty of forward-looking information, you are
cautioned not to place undue reliance on these statements. We disclaim any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
may be required by applicable law.




For further information:

For further information: Jean Charles Robillard, (514) 871-3551,
jcrobilliard@m-x.ca

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