Montreal Exchange reaches agreement to increase ownership in BOX to 53%

    MONTREAL, Dec. 21 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)
announced today that it has reached an agreement to increase its ownership
position in the Boston Options Exchange (BOX) from 31.4% to 53.2%, subject to
regulatory approval.
    Under the terms of the agreement with the Boston Stock Exchange, a
partner in BOX, MX will pay USD $52.5 million in cash for the 21.9%
partnership interest in BOX held by the BSE. MX will finance the transaction
from cash on hand. The transaction is subject to approval by the United States
Securities and Exchange Commission (SEC) and to other customary closing
    "This strategic investment will extend the footprint of the Montreal
Exchange in the North American equity options market," said Luc Bertrand,
President and Chief Executive Officer of MX. "The agreement with our
longstanding US partner, the BSE, confirms our key role as technical operator
and trading technology developer for this innovative US options market."
    The agreement follows an earlier announcement, made October 2, 2007 that
the NASDAQ intends to acquire the BSE, excluding its partnership interest in
    With the completion of the transaction, the BOX partners will be MX,
Citadel, Citigroup, Credit Suisse First Boston, IB Exchange Corporation, JP
Morgan, Morgan Stanley and UBS.
    MX became a founding partner and technical operator of BOX in 2002. BOX
launched operations in February 2004 with a fully automated trading platform.
BOX is recognized as one of the most technically advanced equity options
exchanges competing in the US market.

    About Montreal Exchange Inc.

    The Montréal Exchange (MX) is the Canadian 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), aiming to
establish the leading market for publicly traded environmental products in
Canada. For more information about the Montréal Exchange, please visit

For further information:

For further information: Jean Charles Robillard, (514) 871-3551

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