The Montreal Exchange earned an Award of Excellence for its transformation efforts at the 10th Canadian Information Productivity Awards Gala. The CIPA Awards recognize outstanding contributions in the field of information technology in Canada.

In December 2001, the Montréal Exchange became the first fully automated traditional derivatives exchange in North America. Its project “SAM” (Système Automatisé de Montréal) is the cornerstone of this transformation. SAM has made it possible for the Montreal Exchange to go from a traditional derivatives market with an open outcry trading floor to a fully automated market, while meeting very strict security, flexibility, performance, reliability and continuity criteria.

“All of us at the Montreal Exchange are deeply honoured to receive the CIPA Award of Excellence” stated Luc Bertrand, president and CEO. “This recognition from CIPA joins that of the Fédération de l’informatique du Québec. Last June, the Montréal Exchange won two OCTAS, including the Best of Show/Award of Excellence, at the FIQ Gala. I would like to acknowledge the hard work, competence and expertise of the Montreal Exchange staff who achieved this complex transformation and implemented a technological infrastructure that truly sets new standards.”