The Montreal Exchange announces the listing of six new equity option classes at the opening of trading today.
The new equity option classes are: CI Fund Management Inc. (CIX); Glamis Gold Ltd. (GLG); IAMGold Corp. (IMG); Kinross Gold Corp. (K); Molson Inc. Cl. A (MOL); and Teck Cominco Ltd. Cl. B (TEK).
This brings to 85 the total number of classes available to investors trading on the Montreal Exchange.
New option classes are added periodically to the ME listing based mainly on investors and Approved Participants’ interest as well as the companies stocks’ liquidity on the market.
An increasing number of investors are trading equity options on the ME. In 2002, investors traded more than 6 million equity options contracts, a 19% increase compared with 2001. With the actual market volatility, more investors are building options into their portfolio to protect the value of their shares and diversify their investment strategies, manage risk more effectively, and achieve their investment objectives.
The following firms act as market makers at the ME: BMO Nesbitt Burns Corp. Ltd.; National Bank Financial Inc.; Jitney Group Inc.; Merrill Lynch Canada Inc.; RBC Dominion Securities Inc.; TD Securities Inc.; and Timber Hill Canada Co.