Charging at commodities

Canada may rank as the world's third largest hydrocarbon producer, yet its energy derivatives market has been, up to now, somewhat constrained. David Watkins reports

Canada looks set to undergo a trading transformation, with the implementation of major regulatory changes around the corner. In 2009, a 10-year old non-compete agreement between Canadian exchanges will cease, meaning that the exchanges will no longer be bound by rules determining what they trade.

The non-compete agreement placed jurisdictional barriers on Canada's two biggest exchanges – the Toronto Stock Exchange (TSX) and the Montreal Exchange (MX) – in 1999, confining the TSX to mature cash

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