The Montreal Exchange said Wednesday that trading volume was up 20% in the first half of 2005, compared with the corresponding period in 2004.

More than 13 million contracts were traded in the first six months of 2005, up 20% from 2004. The number of outstanding contracts was up 24%, and the value of outstanding contracts increased by 50%.

“Year to date, our open interest is up 24%, which foretells that the second half should also be strong,” said Luc Bertrand, president and CEO of the exchange, in a news release.

The exchange is also attracting more foreign traders. It notes that seven new foreign firms have joined the exchange since the start of the year, bringing the number of U.S.- and UK-based firms with direct access to 20.

“The Montreal Exchange continues to make significant progress,” Bertrand said. “We are following our goal of rapid development and, clearly, we are meeting the needs of more and more Canadian and foreign investors who trade our derivative products.”