Montréal Exchange Celebrates 25th Anniversary of the BAX

Recognized world-wide as benchmark indicator for Canadian short-term interest 
rates 
MONTRÉAL, May 23, 2013 /CNW/ - Montréal Exchange Inc. (MX)today celebrates 
the 25(th) anniversary of the launch of its signature product, the Three-Month 
Canadian Bankers' Acceptance Futures contract (BAX). 
"The introduction of the BAX in April, 1988, represented a new vision for MX 
and ultimately ushered in the modern era of derivatives for Montreal and for 
Canada," said Alain Miquelon, President and CEO, Montréal Exchange Inc. and 
Group Head of Derivatives, TMX Group. "The innovative spirit of our 
organization remains today as we work to provide responsive, efficient markets 
for all participants with new products and initiatives aimed at increasing 
liquidity." 
Thomas Kloet, CEO, TMX Group, added, "We are proud to support this important 
product across the world and we are pleased with the growth in global interest 
in the BAX since the formation of TMX Group in 2008." 
In the early years, BAX volumes were modest as the financial futures market 
evolved in Canada. In the 1990's, trading in the BAX grew rapidly, and it was 
recognized as Canada's benchmark product for short-term interest rates. The 
BAX has now grown to serve a key function in Canadian money markets and last 
year it ranked 6th globally in terms of volume among short-term interest rate 
futures contracts. BAX average daily volume through April 30, 2013 was 85,570 
contracts, representing a notional amount traded of approximately $86 billion 
daily or 6.5X the total money market trading activity in Canada. This 
represents a compound annual growth rate in volumes of 13% in the last 10 
years since 2003. 
About TMX Group (TSX:X) 
TMX Group's key subsidiaries operate cash and derivative markets and 
clearinghouses for multiple asset classes including equities, fixed income and 
energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, 
The Canadian Depository for Securities, Montréal Exchange, Canadian 
Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, 
Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide 
listing markets, trading markets, clearing facilities, depository services, 
data products and other services to the global financial community. TMX 
Group is headquartered in Toronto and operates offices across Canada 
(Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, 
Boston and Chicago) as well as in London, Beijing and Sydney. For more 
information about TMX Group, visit our website at www.tmx.com. Follow TMX 
Group on Twitter at http://twitter.com/tmxgroup. 
please contact: Shane Quinn Manager, Communications and Public Affairs TMX 
Group 416-947-4609 Email:shane.quinn@tmx.com 
SOURCE: TSX Group Inc. 
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CO: The Montreal Exchange
ST: Ontario
NI: FIN FIN  
-0- May/23/2013 13:23 GMT
 
 
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