Montréal Exchange wishes to inform you

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Montréal Exchange wishes to inform you

The Montréal Exchange (MX) would like to inform you about the Investment Industry Regulatory Organization of Canada (IIROC) latest decision on the licensing requirements for investment advisors seeking to trade options.

At the request of IIROC, CSI Global Education (CSI) will offer a new Derivatives Fundamentals and Options Licensing Course (DFOL) on January 31, 2011. The DFOL will greatly facilitate the licensing of financial professionals for options trading.

This new and more streamlined process will help encourage the appropriate and responsible use of options by Canadian investors by increasing the number of financial professionals licensed in effective options trading. MX is encouraged by this development and applauds IIROC for making these important risk management tools more accessible to Canadian investors.

While this is an important first step in streamlining options licensing, in many jurisdictions around the world securities licensing for brokers and traders includes equity options as part of a single qualifying examination. Ultimately, it will be important for the continued development of Canada's capital markets to evolve its licensing process to a similar all inclusive approach.

The IIROC notice on the new DFOL course can be found at www.iiroc.ca.

For additional information on the new DFOL course, visit the CSI website at www.csi.ca. You can also contact me at spopov@m-x.ca or by phone at 514 871-7898.

Stoil Popov
Business Development Manager, Equity Derivatives
Financial Markets
Montréal Exchange

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contact@m-x.ca.

Warning and disclaimer

This document is sent to you on a general information basis only. The information provided in this document, including financial and economic data, quotes and any analysis or interpretation thereof, is provided solely on an information basis and shall not be interpreted in any jurisdiction as an advice or a recommendation with respect to the purchase or sale of any derivative instrument, underlying security or any other financial instrument or as a legal, accounting, tax, financial or investment advice. Bourse de Montréal Inc. recommends that you consult your own advisors in accordance with your needs. All references in this document to specifications, rules and obligations concerning a product are subject to the Rules and Policies of Bourse de Montréal Inc. and its clearinghouse, the Canadian Derivatives Clearing Corporation. Although care has been taken in the preparation of this document, Bourse de Montréal Inc. takes no responsibility for errors or omissions and it reserves itself the right to amend or review, at any time and without prior notice, the content of this document.

Bourse de Montréal Inc., its directors, officers, employees and agents will not be liable for damages, losses or costs incurred as a result of the use of any information appearing in this document.