Proposed Combination of Exchanges - Submission of observations and public consultation schedule

Organization

Montréal – As part of the public consultation related to the proposed combination of Montréal Exchange Inc. and TSX Group Inc., the Autorité des marchés financiers (AMF) received 19 submissions from the following organizations or individuals:

  • Action démocratique du Québec (ADQ)
  • CDS Clearing and Depository Services (CDS)
  • Caisse de dépôt et placement du Québec (CDP)
  • The Canadian Chamber of Commerce
  • Board of Trade of Metropolitan Montreal
  • Conseil du patronat du Québec (CPQ)
  • Côté, Marcel
  • Fédération des Chambres de commerce du Québec (FCCQ)
  • Gagnon, Jean-Marie and Nabil Khoury
  • HEC Montréal
  • Institute for Governance of Private and Public Organizations (IGPPO)
  • Martel, Stéphane
  • Mirabaud Canada Inc.
  • Mouvement d'éducation et de défense des actionnaires (MÉDAC)
  • Desjardins Group
  • Paillé, Daniel
  • Parizeau, Jacques
  • Pictet Canada S.E.C.
  • Todd, Peter A.

The above submissions are available on the AMF website in the section "Public Consultations – Proposed Combination of Exchanges."

Some individuals and organizations who submitted written observations have requested to make an oral presentation at the public consultation, to be held on March 26 and 27, 2008, at the Fairmont The Queen Elizabeth Hotel, 900 René-Lévesque Blvd. West in Montréal. The schedule for these presentations follows.

In addition, a notice of consultation procedures was published on March 14, 2008 in the AMF Bulletin (in French only), which is also available on the AMF website under the tab "Bulletin."

The AMF will examine the proposed combination in light of the observations submitted and based on the following guiding principles:

  • Ensure that Montréal Exchange satisfies all the requirements enabling it to fully assume its role as a self-regulatory organization and a derivatives exchange;
  • Ensure the sustainability of Montréal Exchange as an organization specialized in managing derivatives markets, including regulatory and oversight activities for trading in derivatives and related products;
  • Ensure that Montréal Exchange will have sufficient financial and human resources to continue its growth and development and the expansion of the organization in North American and international derivatives markets;
  • Promote efficiency in and expansion of the derivatives market in Québec;
  • Ensure the protection of investors;
  • Maintain the capacity of the AMF to effectively and substantially exercise its regulatory competencies.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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Information:

Media only:
Frédéric Alberro (514) 940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337


Presentation schedule

Public consultation on proposed combination of Montréal Exchange Inc. and TSX Group Inc.

Location:
Fairmont The Queen Elizabeth Hotel, Duluth Room
900 René-Lévesque Blvd. West
Montréal, Québec H3B 4A5
www.fairmont.com This link will open in a new window

 

MARCH 26, 2008

8:30 a.m.

Reception of guests and observers

9:10 a.m.

Word of welcome and presentation of AMF

Presentations

9:30 a.m.

1. Montréal Exchange Inc. / TSX Group Inc.

  • Luc Bertrand, President and CEO, Montréal Exchange Inc.
  • Michael Ptasznik, Interim Co-CEO, TSX Group Inc.
10:15 a.m.

2. Caisse de dépôt et placement du Québec

  • Ginette Depelteau, Senior Vice-President, Policies and Compliance
  • Gilles Godbout, Senior Vice-President, Investments, Financial Services
11:00 a.m.

Health break

11:30 a.m.

3. Desjardins Group

  • Alban D'Amours, President and CEO
  • Yves Morency, Vice-President, Government Relations
12:15 p.m.

Suspension of consultation (Lunch break)

2:15 p.m.

4. Jacques Parizeau, Former Premier of Québec

3:00 p.m.

5. Board of Trade of Metropolitan Montreal

  • Isabelle Hudon, President and CEO
  • Sylvain Bouffard, Director, Policy and Analysis
3:45 p.m.

Health break

4:00 p.m.

6. Mouvement d’éducation et de défense des actionnaires (MEDAC)

  • Yves Michaud, Founding President
  • Fernand Daoust, Vice-President
  • Louise Champoux-Paillé, Director
4:45 p.m.

7. Jean-Marie Gagnon, Professor emeritus, Laval University
-and-
Nabil Khoury, Professor emeritus, Laval University, and Professor and Holder of the Desjardins Chair in Derivatives Management at UQAM

5:30 p.m.

Adjournment

 

MARCH 27, 2008

8:30 a.m.

Reception of guests and observers

9:00 a.m.

Word of welcome

9:15 a.m.

8. Canadian Clearing and Depository Services (CDS)

  • Ian A. Gilhooley, President and CEO
10:00 a.m.

9. Daniel Paillé, Guest Professor, Department of Finance, HEC Montréal

10:45 a.m.

Health break

11:00 a.m.

10. Fédération des chambres de commerce du Québec (FCCQ)

  • Jean Laneville, Economist, FCCQ
  • Mathieu Truchon, Portfolio Manager and Wealth Management Advisor, BMO Nesbitt Burns
11:45 p.m.

11. Institute for Governance of Private and Public Organizations (IGPPO)

  • Yvan Allaire, Chair of the Board
  • Michel Nadeau, Executive Director
12:30 p.m.

Suspension of consultation (Lunch break)

2:00 p.m.

12. HEC Montréal

  • Martin Boyer, Professor and Director of Department of Finance
2:45 p.m.

13. Action démocratique du Québec (ADQ)

  • Gilles Taillon, MNA for Chauveau, Assistant to the Leader of the Official Opposition and Official Opposition Critic for Finance
3:30 p.m.

Health break

3:45 p.m.

14. Marcel Côté, Economist, Founding Partner of Secor Consulting

4:30 p.m.

End of consultation