The Montreal Exchange is pleased with the Autorité des marchés financiers’ proposal to equip Quebec with a modern regulatory framework for derivatives instruments, it stated in a news release issued on Tuesday.

With the working paper, which was released last Thursday, the AMF recognizes that derivatives markets are constantly evolving; this proactive attitude of the Quebec regulatory body will provide Quebec with rules adapted to meet the needs of the derivatives markets and consumers, says Luc Bertrand, president and CEO of the MX.

“This is good news for Quebec and for derivatives market participants,” adds Bertrand. “A modern and flexible derivatives regulatory framework will provide significant support for the Montreal Exchange efforts to develop the derivatives markets, both in Canada and abroad. I am therefore very pleased with the AMF initiative to publish a working document on the regulation of derivatives markets.”

The MX also stated that it’s pleased with the AMF’s commitment to harmonize the proposed rules with other Canadian provinces and with international principles. This approach will simplify the administrative procedures while considering the many changes that occur in the financial industry.