Advisors looking for an indicator on how the Toronto Stocks Exchange will open should consider the Montreal Exchange’s S&P/TSX 60 index futures.

The S&P/TSX 60 Index Futures contract (symbol: SXF) has become an important barometer that accurately anticipates the direction of the S&P/TSX 60 Index at the opening of trading, the derivatives exchange said Monday.

“Trading on the SXF futures contract starts at 6:00 a.m., which provides three and half hours of trading activity before Toronto Stock Exchange opens,” says Alain Miquelon, president and CEO, MX.

“Similar to other international markets, Canadian investors now have the opportunity to evaluate where the market will open by observing the behaviour of the SXF contract in response to economic news released prior to the open.”

The SXF contract, which was launched in September 1999, is the benchmark financial instrument used primarily by institutional investors to hedge a portfolio of Canadian equities.

On average for 2010, more than $2 billion in value is traded daily in the SXF index futures contract compared to $3 billion for the stocks that comprise the underlying index, making the SXF an important contributor to the trading activity of the equities and equity derivatives markets in Canada, the MX says.

SXF contract quotes are available on the MX web site at www.m-x.ca.

MX and TMX are both wholly owned subsidiaries of Toronto-based TMX Group Inc. (TSX:X).

IE