Montréal Exchange Inc. (MX) has completed an acquisition giving it a majority ownership interest of 53.2% in the Boston Options Exchange Group, LLC (BOX).
The MX acquired a 21.9% ownership position from another senior BOX partner, the Boston Stock Exchange, Inc. (BSE), as agreed in December 2007. The transaction was approved on August 7, by the BOX regulator, the United States Securities and Exchange Commission.
“Increasing our investment in BOX grows from confidence in our strategy of expanding our presence in the US equity options market, one of the most dynamic derivatives markets in the world,” says Luc Bertrand, deputy CEO of the TMX Group, and president and CEO of MX. “We continue in our key role as technical operator and technology developer for this innovative automated market.”
BOX is an all-electronic equity derivatives market and was created as an alternative to the existing market models. BOX launched trading in February 2004.
MX completes take over of Boston Options Exchange
Transaction gives TMX Group bigger North American footprint in equity options
- By: IE Staff
- September 3, 2008 September 3, 2008
- 11:20
IE Staff