February 25, 2026Advisory Notice A26-003

Listing of FTSE Canada Bank Credit Index Futures (BCS)

Listing of FTSE Canada Bank Credit Index Futures (BCS)

Montreal Exchange Inc. ("MX") wishes to inform market participants that, subject to completion of the regulatory process and market readiness, it will list its new FTSE Canada Bank Credit Index Futures ("BCS") on Wednesday, April 8, 2026, at 7:00 am ET. The following Index Futures class will be listed:

FTSE Canada Bank Credit Index Futures: BCS

MX will list four quarterly expiries starting with the June 2026 expiry. As such, the following symbols will be listed at the open of trading on April 8, 2026:

FTSE CANADA BANK CREDIT INDEX FUTURES ("BCS")

Symbol

External Symbol

Contract Month

BCS

BCSM26

BCSU26

BCSZ26

BCSH27

June 2026

September 2026

December 2026

March 2027

Pursuant to Advisory Notice A25-020, the launch of Credit Futures will complement the current yield curve futures and offer a first-of-its kind exchange-traded tool to manage Canadian credit risk. More information about the product is available at: https://app.m-x.ca/bcs/.

In preparation for the launch, MX invites market participants and key stakeholders to test their systems. The new contract specifications can be found below.

The contracts will be added to the High Speed Vendor Feed (HSVF) and Order Book Feed (OBF) using the current messaging protocols three business days before the target launch date to allow vendors to refresh their dictionaries and data repositories.

B|C|S FTSE Canada Bank Credit Index Futures

SPECIFICATIONS
Underlying	The FTSE Canada Bank Credit Spread Index
Symbol	BCS
Trading Unit	Based on the underlying index, such that each basis point of credit spread = $50 per contract. The contract size is C$5,000 x the Contract Index
Expiry Cycle	March, June, September and December Each contract expiry has its own associated Index series
Price quotation	Quoted in terms of a Contract Index equal to 100 points minus the Underlying Index (expressed in %) For example, a FTSE Canada Bank Credit Index value of 87.50 shall correspond to a credit spread of 0.8750% and a contract price of 99.125
Settlement date	The third Wednesday of the expiry month
Last Trading Day	Trading ceases at close of trading on the business day preceding the 3rd Wednesday of the contract expiry month
Final settlement price	100 - FTSE Canada Bank Credit Spread Index value (of the contract associated Index series) on the last trading day
Minimum Price Fluctuation	0.005 Contract index points = C$25
Position Reporting Threshold	250 contracts
Position Limit	Information on position limits can be obtained from MX as they are subject to periodic changes. See Circulars.
Minimum Margin Requirements	Information on minimum margin requirements can be obtained from MX as they are subject to periodic changes. See the Futures contracts margin rates page on the Regulatory Division website.
Trading Hours	Regular session: 7:00** a.m.to 4:30 p.m. ET. Note: During early closing days, the regular session closes at 1:30 p.m. ** ± 15 seconds
Clearing Corporation	The Canadian Derivatives Clearing Corporation (CDCC)

For further information, please contact the Market Operations Department at 514 871- 7871. Clearing Members may contact the CDCC's Business Operations department or direct email inquiries to cdcc-ops@tmx.com.

The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules Montreal Exchange Inc. (the "MX "). While Montreal Exchange Inc. endeavours to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the MX Bourse, the latter shall prevail. The MX Rules must be consulted in all cases concerning product's specifications.