The Montreal Exchange has extended its trading hours to provide better global reach for derivatives traders.
The 2.00-4.30am EDT trading session corresponds with 7.00-9.30am London time and is in response to an increase in activity and demand from MX's global clients, particularly during the early trading session.
"This is an exciting day for Montréal Exchange as we, together with our valued clients and stakeholders, take an important step forward in the evolution of Canada's world-class markets," said Luc Fortin, President and Chief Executive Officer of MX and Global Head of Trading, TMX Group.
Fortin added that the move should bring multiple long-term benefits to the marketplace, including increased participation, improved transparency, and enhanced liquidity while strengthening MX's competitive global position.
Investors now have expanded access to MX's suite of interest rate derivatives products, including the internationally-recognized Canadian benchmarks Three-Month Canadian Bankers' Acceptance Futures (BAX) and Ten-Year Government of Canada Bond Futures (CGB).
The new earlier session also includes a pre-open or order entry session beginning at 1:30 a.m. ET (6:30 a.m. London time).
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