Montréal Exchange (MX), Canada’s derivatives exchange, launched the next phase of its extended trading hours initiative, offering investors in the Asia Pacific region the opportunity to manage their exposure to Canadian markets and execute cross-market strategies in their local time, almost 24 hours a day.
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"We are extremely excited to launch this new phase of MX's globalization strategy, as we continue to push the evolution of our markets and address the increasing global demand for Canadian derivatives," said Luc Fortin, President and Chief Executive Officer of MX and Global Head of Trading, TMX Group. “In keeping with the trend of global capital flows, pension funds in Asia have significantly increased their international exposure and we are encouraged by the strong engagement we have seen from investors and participants in the region to date. Canada offers a compelling value proposition for investors and around the world: access to highly-liquid, world-class markets and a leading global economy. As we move forward, extended trading hours better aligns MX with our global peers, increases international visibility and connects us to more clients.”
Following the successful launch of MX’s extended hours initiative in 2018 with trading on London time, international investors now have increased access to Canada’s markets. The availability of MX’s products during Asia's business hours will enable investors and risk managers to trade Canada’s benchmark products on a relative value basis against additional markets, including Australia and Japan. The extended trading hours initiative is also intended to accelerate MX’s global expansion plans, by diversifying its client base and developing new centers of liquidity.
Trading sessions open at 8:00 p.m. (t-1) ET (with a 7:30 p.m. (t-1) ET pre-open) and close at 4:30 p.m. ET.
Designed as a trading and risk management solution for investors around the world, extended trading hours enables international clients expanded access to MX’s full suite of interest rate derivatives products, ranging from the 3-month CORRA Futures (CRA) and the Three-Month Canadian Bankers' Acceptance Futures (BAX), to the Government of Canada bond futures benchmarks, including the 2-Year (CGZ), 5-Year (CGF) and 10-Year (CGB) contracts, as well as equity derivatives products such as the S&P/TSX 60 Index* Standard Futures (SXF).
For additional details, please visit MX Extended Hours.
Source: Montréal Exchange