The exchange was founded in 1874 and demutualised in 2000. Under an agreement with the Toronto Exchange in 1999, it shed its equity business in return for non-competition in derivatives. However, the Ontario-based bourse has made public its intention to compete in the market once that pact expires in 2009.
Last year the Montréal Exchange reported net earnings of C$15.1 million ($13 million). It is the main shareholder and technology provider of the Boston Options Exchange, and also runs its own clearing house, the Canadian Derivatives Clearing Corporation.