Notices

Montreal Exchange

From Traderpedia

Definition:
Canada's second major exchange following the TSX.


The Montreal Exchange - or Bourse de Montréal - like the TSX, was initially formed by a group of businessman in the early 1800's, but didn't become known as the Montreal Exchange until around 1874, some years after the Toronto Exchange.

In the early eighties, the exchange changed names from the Montreal Stock Exchange to simply the Montreal Exchange, to show the relevance of instruments other than stocks, predominantly options and futures on the trading floor.

In 1999, the major Canadian stock exchanges (namely those in Toronto, Alberta and Vancouver) restructured the Canadian markets which resulted in the CDNX, and a ten-year agreement for the MX to run this. Larger share trading was transferred to the TSX, and small companies on the newly-established TSX Venture Exchange.

In 2001, the exchange became a fully automated trading system, rather than open outcry, and in doing so became the first exchange in North America to complete the transition.