Alain Miquelon
President and Chief Executive Officer
Mr. Miquelon was appointed President and Chief Executive Officer of the Montréal Exchange on July 1, 2009. Previously, at the Exchange, he held the positions of Executive Vice-President, Chief Operating Officer and Head of Strategic Development from February 2009 to June 2009 and Executive Vice-President, Chief Financial Officer and Head of Strategic Development from August 2007 to February 2009. On April 15, 2011, he was appointed Managing Director of Canadian Derivatives Clearing Corporation (CDCC), a wholly-owned subsidiary of the Montréal Exchange. Before joining the Montréal Exchange team, Mr. Miquelon served from 2000 to 2007 as COO and Executive Vice-President Corporate Development and CFO at Mediagrif Interactive Technologies, a B2B internet-based services company headquartered in Montréal. Before 2000, he held various financial management positions with Memotec Communications, ScotiaMcLeod's Investment Banking Division, and Arthur Andersen. Mr. Miquelon is a Chartered Accountant and holds a B.B.A. from HEC Montréal and an M.B.A. from INSEAD, France.

Glenn Goucher
President and Chief Clearing Officer
Mr. Goucher joined the Montréal Exchange in November 2001 and is now acting as President and Chief Clearing Officer of the Canadian Derivatives Clearing Corporation. Prior to this position, he was Senior Vice-President, Financial Markets. Mr. Goucher was responsible for market operations, business development and marketing activities for the Exchange in multiple derivative market segments. He also serves as Director for the Montréal Climate Exchange and Candeal. Before joining the Exchange, Mr. Goucher held different responsibilities with a Canadian investment dealer, including Director for equity derivative marketing and Manager of exchange-traded derivatives. He played an active role as Portfolio Manager for a Canadian pension fund, responsible for the day-to-day management of several bond portfolios as well as overseeing the implementation of G7 derivative strategies. He has also lectured undergraduate finance and business policy courses on a part-time basis. Mr. Goucher has held the title of Chartered Financial Analyst since 1997, and holds both an MBA and a BSc Eng. from the University of New Brunswick.

Claude Cyr
Senior Vice-President, Financial Markets
Mr. Cyr is the Senior Vice-President, Financial Markets at the Montréal Exchange. Mr. Cyr is responsible for the development and management of the Financial Markets department. He oversees the Exchange's operations, which includes market monitoring, commercial development, customer relationship management, products, pricing and marketing activities. Mr. Cyr has over 20 years of financial markets experience. Most recently, he was First Vice-President and Head of Global Services & Relationship Management at Newedge Canada Inc. Prior to that, Mr. Cyr held positions of increasing responsibility at J.P. Morgan Securities Canada, where he served as Vice-President and later as Executive Director. During that time, he was responsible for managing the firm's Canadian futures and options business and OTC clearing. Mr. Cyr holds a bachelor of commerce from Concordia University, as well as the Chartered Financial Analyst designation.

Léon Bitton
Vice-President, Research and Development
Mr. Bitton presently serves as Vice-President, Research and Development at the Montréal Exchange. Mr. Bitton has led the research and development effort related to most of the Montréal Exchange currently listed derivatives products. He was also the driving force behind the establishment of the first regulated carbon market in Canada: the Montréal Climate Exchange (MCeX). He holds a master's degree from the University of Québec in Montréal with a collaboration from the Florida International University. Mr. Bitton formerly was a member of the Board of the research center CIRANO, of the Board of the Association des MBA du Québec, and of the Board of MITACS (Mathematics of Information Technology and Complex Systems). He also regularly acts as a speaker and derivative products advisor to various associations and organizations in the financial and environmental sectors.

Brian Z. Gelfand
Vice-President, Institutional Relations and Market Operations
Mr. Gelfand is the Vice-President Institutional Relations and Market Operations at the Montréal Exchange. In this capacity, he is responsible for managing relationships with all the Exchange's market participants worldwide, for market access and connectivity, and for market operations. Mr. Gelfand joined the Exchange as the founding Director of the Derivatives Institute, a provider of specialized derivatives training and education established by the Montréal Exchange in 2001. Before joining the Exchange, he was the Special Adviser to the Secretary General of the International Organization of Securities Commissions (IOSCO), and an associate at the law firm of Lapointe Rosenstein in Montréal. He is a member of the Bars of Quebec, New York and Massachusetts, and holds B.A., B.C.L. and LL.B degrees from McGill University and an M.A. in International Relations from The Johns Hopkins University (SAIS).

François Gilbert
Vice-President, Legal Affairs, Derivatives
Mr. Gilbert joined the Montréal Exchange as Vice-President, Legal Affairs, Derivatives in May, 2009. Mr. Gilbert has over 15 years experience as a practicing lawyer. He has significant expertise in the fields of derivatives, structured products, securitization and debt capital markets. Prior to joining the Montréal Exchange, Mr. Gilbert was a senior lawyer in the London derivatives and structured finance group of Allen & Overy LLP, one of the world's foremost finance law firms. Before moving to London, Mr. Gilbert was a structured finance partner at McCarthy Tétrault LLP in Toronto where he was head of the firm's derivatives practice. Mr. Gilbert holds a B.A. in Economics from McGill University (graduating with distinction) and an LL.B. from Osgoode Hall Law School. He is qualified to practice law in Ontario (1994), England and Wales (2006) and Québec (2009 – special Corporate Legal Advisor permit).