Montréal Exchange Inc. (MX), a TMX Group Inc. company (TSX-X), announced today that it has completed an acquisition giving it a majority ownership interest of 53.2% in the Boston Options Exchange Group, LLC (BOX), recognized as one of the most innovative US equity options exchanges.
The MX acquired a 21.9% ownership position from another senior BOX partner, the Boston Stock Exchange, Inc. (BSE), as agreed in December 2007. The transaction was approved on August 7, 2008 by the BOX regulator, the United States Securities and Exchange Commission (SEC). Regulatory services to BOX will continue to be provided through BOXR, a wholly-owned subsidiary of the BSE.
"Increasing our investment in BOX grows from confidence in our strategy of expanding our presence in the US equity options market, one of the most dynamic derivatives markets in the world," said Luc Bertrand, deputy ceo of the TMX Group, and president and ceo of the Montréal Exchange. "We continue in our key role as technical operator and technology developer for this innovative automated market."
