Bourse de Montréal Inc. has obtained approval from the U.S. Commodity Futures Trading Commission to offer American dealers and brokers access to its electronic trading platform, the Montreal Automated System, for the trading of futures contracts and options on futures contracts.

The CFTC has granted Bourse de Montréal Inc. no-action relief, provided it complies with the usual terms set by the American commission.

“U.S. dealers and brokers will now have access to Canadian derivatives, which to date have not been readily available,” stressed Luc Bertrand, president and CEO of Bourse de Montréal Inc. “From now on, they can place orders for their proprietary accounts or their U.S. customers and complete their transactions with the Montreal Exchange, using their own terminals, from any business location in the United States.”

American brokers and dealers, Futures Commission Merchants registered with the CFTC and participants benefiting from relief pursuant to CFTC rules will be able to, respectively, trade directly on the Montreal Automated System (SAM) for their proprietary accounts, trade for their U.S. customers, and accept orders from their U.S. customers through automated order routing systems for submission to SAM. These participants will first have to be admitted as Approved Participants of Bourse de Montréal Inc.

“For the Montreal Exchange, access to the American market definitely offers increased potential for development. This news, while independent of our recently announced partnership to set up an electronic exchange for United States securities options, further adds to the Bourse’s visibility, both on the Canadian and the U.S. markets,” concluded Bertrand.