TORONTO, Jan. 20 /CNW/ - TMX Group Inc. is pleased to announce its first
cross-asset class fee incentive program, which is effective February 1, 2009.
The TMX Group Exchange Traded Fund (ETF) Options Market Maker Rebate program
will provide incentives for ETF options Market Makers to hedge Montréal
Exchange trading activities through cash positions on Toronto Stock Exchange.
"This incentive program is designed to remove hedging friction for ETF
options Market Makers and to attract further ETF trading activities and
listing opportunities on Toronto Stock Exchange, TSX Venture Exchange and
Montréal Exchange," said Glenn Goucher, Senior Vice President, Financial
Markets, Montréal Exchange.
Under the rebate program, each ETF options contract traded by the
designated Market Maker on Montréal Exchange will generate a per-share credit
to offset ETF trading activities on Toronto Stock Exchange.
"The development of this new cross-asset class subsidization of ETF
options market making activities further supports TMX Group's efforts to
encourage growth in the ETF sector, and to develop an integrated cash and
derivatives trading business," said Kevan Cowan, President TSX Markets and TMX
Group Head of Equities.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for
multiple asset classes including equities, fixed income and energy. Toronto
Stock Exchange, TSX Venture Exchange, Montreal Exchange, Natural Gas Exchange,
Boston Options Exchange (BOX), Shorcan, Equicom and other TMX Group companies
provide trading markets, clearing facilities, data products and other services
to the global financial community. TMX Group is headquartered in Toronto with
offices in Montreal, Calgary and Vancouver. For more information about TMX
Group, visit our website at www.tsx.com.
For further information:
For further information: Carolyn Quick, Director, Corporate
Communications, TMX Group, (416) 947-4597, firstname.lastname@example.org