TORONTO, Aug. 14 /CNW/ - TSX Group Inc. and International Securities
Exchange Holdings, Inc. (ISE) today announced the completion of a shareholders
agreement for CDEX Inc. (CDEX), which will operate DEX, a new derivatives
exchange scheduled to begin operation in March 2009. CDEX will initially be
owned 52% by TSX Group and 48% by ISE Ventures LLC, a wholly owned subsidiary
of ISE, and will list and trade options, futures and options on futures on a
range of Canadian securities. The launch of DEX will benefit the Canadian
marketplace by bringing innovative derivative products and expanding the
available trading alternatives.
Completion of the shareholders agreement is a significant milestone
because it triggers funding by TSX and ISE of the monies needed to establish
DEX and execute its initial business plan. The cost of setting up DEX is
expected to be approximately $26 million Canadian and will be split between
TSX and ISE according to their share ownership in the new venture.
CDEX has been incorporated under the Canada Business Corporations Act and
will initially have a seven member Board of Directors, comprised of four TSX
and three ISE representatives.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income
inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Winnipeg, Calgary and Vancouver.
About ISE (NYSE: ISE)
International Securities Exchange Holdings, Inc. (NYSE: ISE), through its
subsidiaries, operates a family of innovative securities markets. Founded on
the principle that technology and competition create better, more efficient
markets for investors, ISE consists of an options exchange, a stock exchange,
an alternative markets platform and a market data business. ISE continually
enhances its trading systems and develops new products to provide investors
with the best marketplace and investment tools to trade smarter.
For more information about ISE, visit www.ise.com.
For further information:
For further information: Steve Kee, Director, Corporate Communications,
TSX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)