The US Commodity Futures Trading Commission (CFTC) has granted approval to the Bourse de Montréal to offer American dealers and brokers access to its electronic trading platform, the Montreal Automated System (SAM).
American investors will now be able to trade futures contracts and options on futures contracts on SAM, provided the exchange complies with the usual terms set by the CFTC.
Luc Bertrand, president and CEO of Bourse de Montréal, comments: "From now on, they can place orders for their proprietary accounts or their US customers and complete their transactions with the Montréal Exchange, using their own terminals, from any business location in the United States."
Participants will first have to be admitted as approved participants of Bourse de Montréal.
Bertrand continues: "For the Montréal Exchange, access to the American market definitely offers increased potential for development. This news, while independent of our recently announced partnership to set up an electronic exchange for United States securities options, further adds to the Bourse's visibility, both on the Canadian and the US markets."