The Montreal Exchange announced today that it plans to list its shares publicly next year, but will list its shares without an initial offering.

“The listing should occur once the formal procedures have been completed, which should be in March or April 2007,” the exchange said in a news release.

MX Canada’s oldest exchange and continues to be the leader in complex derivative investments.

The market currently has about 300 shareholders, including UBS Warburg, pension fund manager Caisse de depot et placement du Quebec and Quebec-based National Bank (TSX: NA), as well as business and individual shareholders. Exchange employees own 15%.

“The board’s decision to list the Montreal Exchange’s shares was based fundamentally on the recognition of the level of maturity attained by the organization,” CEO Luc Bertrand said.

“Given the current situation-in which the MX business generates sufficient funds to finance its activities and development projects, the members of the board of directors and of the MX management concluded that a listing without offering meets the liquidity objective for MX shares.”

He said listing the MX shares “will simplify questions about the company’s value and, at the same time, clearly establish its public status and the rules that govern it.”