The Toronto Stock Exchange (TSX Group) and the International Securities Exchange (ISE) are to create a new derivatives exchange called DEX. It will be launched in March 2009.
DEX will be owned 52% by TSX Group and 48% by ISE and will list and trade options, futures and options on futures on a range of Canadian securities. DEX will pair TSX’s position as the leading Canadian market for Canadian securities together with ISE’s superior derivatives trading platform, including OMX’s trade match engine and ISE’s complementary suite of technology. With a distinct order book and trading rules, TSX says DEX will complement its other exchanges to provide investors with a full set of trading products and strategies.
Between now and the launch in 2009, both TSX Group and ISE will work on the implementation strategy. DEX will create a new platform to expand the trading alternatives available for investors in Canadian securities.