TMX Group derivatives chief departs

Luc Fortin, who joined the exchange group only last month, will take over running the Montreal Exchange.

TMX Group, Canada’s largest exchange group operator, has announced the departure of its head of derivatives.

Alain Miquelon, group head of derivatives and CEO of the Montreal Exchange (MX), Canada’s only derivatives exchange, has left to pursue other opportunities the group said in a statement.

“I would like to thank Alain for his significant contribution to MX’s success and the work he has done to help advance MX’s strong domestic and international reputation over the years,” said Lou Eccleston, CEO, TMX Group.

Miquelon joined the group in 2007 as chief financial officer and head of strategy in 2007, overseeing the integration of MX and TSX Group. He was named president and CEO of MX in 2009.

Luc Fortin, who joined TMX Group only last month from HSBC as a managing director for derivatives trading, will act as interim president and CEO of the exchange.