Luc Bertrand, deputy CEO, TMX Group and president and CEO of Montreal Exchange Inc., will be stepping down from his position effective June 30, TMX Group said Thursday.

Bertrand has served as MX’s president CEO since March 2000 and was integral in establishing and growing the business of the derivatives exchange.

Bertrand will continue as a member of the TMX Group board of directors until June 30.

“Luc has been a valued partner in completing the TSX Group and MX combination to create TMX Group,” said Thomas Kloet, CEO, TMX Group, in a release.

“He is well respected for his strategic and leadership skills both within TMX Group and with his peer group. We appreciate all that Luc has done for TMX Group and wish him all the best in the future,” Kloet added.

“I now feel that it is a good time for me to move on to other challenges and opportunities,” said Bertrand. “We have a solid team in place to lead the business forward and there will be a smooth transition to my successor. I am confident that I am leaving both TMX Group and MX in good hands.”

TMX also announced the appointment of Alain Miquelon to the position of president and CEO of MX, effective July 1.

“Alain is the clear successor for the position of president and CEO of MX at TMX Group,” said Mr. Kloet. “He has demonstrated leadership skills and has done a terrific job of spearheading the integration planning process.”

Miquelon joined MX in August 2007, and held the role of exec. vp, CFO and head of strategic planning until the completion of the combination of the TSX and MX, at which time he took a leadership role as bead of the integration project management office.

Miquelon has 20 years of industry experience; he is a Chartered Accountant and earned his MBA at INSEAD, France.

IE