Montreal Exchange Inc. sharply higher profit for the year ended Dec. 31, 2005, due in part to record transaction levels in the Canadian derivative products market and contributions from the Boston Options Exchange (BOX).

Net earnings for the year were $15.1 million, or $1.74 diluted earnings per share, a 69% increase over the $9 million, or $1.07 diluted EPS, achieved in 2004.

The exchange said the increase stems mainly from record transaction levels in the Canadian derivative products market and from the MX’s share in the earnings of BOX.

Total revenue for 2005 was $63.2 million compared to $52.3 million in 2004 (excluding $5 million in non-recurring revenue from a transaction performed in first quarter 2004).

Transactions revenue rose 34% to $26.4 million, while information systems services revenue, which is related to the management of BOX’s technical operations climbed 28% to $15.6 million.

“In 2005, the Montreal Exchange reached new heights, both in terms of its development and its financial results,” said Luc Bertrand, the president and CEO, MX, in a release.

“We continued to promote the Canadian derivatives market to investors and to attract new market participants, and we also achieved record trading volume, all of which translated into stronger revenues from transactions, clearing services and market data services,” he added.

“In addition, the Boston Options Exchange contributed significantly to the Exchange’s revenues and earnings in 2005,” Bertrand said. MX holds a 31.4% interest in BOX.