Buoyed by a successful share listing, Montreal Exchange (MX) is bent on growing derivatives business through its own devices and in defiance of looming domestic competition from Toronto Stock Exchange (TSX).
The stock, which went public on 27 March, closed trading at C$45.5, giving MX a market value of around C$1.5bn. The exchange's chief executive Luc Bertrand called the day "a crowning moment", given that the price was 57% higher...