The Montreal Exchange announced Friday that it will introduce futures based on four S&P/TSX sector indices on April 29. The futures will cover information technology, energy, financials and gold.

“Sectorial futures will provide portfolio managers significantly broader strategic solutions based on select sectors of the Canadian economy,” said Luc Bertrand, president and CEO of Bourse de Montréal Inc.

“As the sectorial futures will be trading on the exchange’s electronic platformand be cleared through the Canadian Derivatives Clearing Corporation, traders will continue to benefit from the added value — transparency, liquidity and access — offered by the Montreal Exchange,” he added.

“We are pleased with the Montreal Exchange’s initiative to launch sectorial futures based on S&P/TSX sector indices,” said Robert Shakotko, managing director, index services, Standard & Poor’s. “These new derivative products serve the needs of investors as they provide a great complement to the rising number of sector products in the cash market.”

Traders at BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc. and Timber Hill Canada Company will be supporting the launch of the futures by providing continuous pricing services on the new contracts.