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Montreal Options Exchange

Located in Montreal, the Montreal Exchange is a futures exchange that trades in derivatives, such as futures contracts and options. Originally the Montreal Stock Exchange, in 1982 the name was changed in order to represent the importance of other financial instruments on the trading floor. Although originally dependent on London's Market, World War I ended this link and strengthened the Canadian economy. In 1926, the Montreal Curb Market was created to allow trading in speculative and junior stocks and in 1953 this market was renamed the Canadian Stock Exchange (which became the Montreal Exchange).

In 2001, the Montreal Exchange was the first traditional exchange in North America to transform from an open outcry environment to an automated system. During this process, the market model was modified for trading. It went from a traditional specialist model to a competitive market making model for the equity option market. The Montreal Exchange became the sole provider of electronic trading systems and support for the Boston Options Exchange in 2004. This contract made it the first foreign exchange responsible for the day-to-day operations of a U.S. exchange and gave the Montreal Exchange a 31.4% stake in the Boston Options.

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