In 1999, TSX signed an agreement with the Montreal Exchange stating that TSX would stay out of the derivatives business for 10 years. In exchange for the promise, Montreal gave Toronto its blessing to acquire exchanges and offices in Vancouver, Alberta, Calgary and Winnipeg, and essentially assume the role of the Canadian Big Board, trading senior equities. However, with the clock ticking down, a natural assumption might be that TSX is positioning itself for future derivatives trading.

For more information, see www.advancedtrading.com/TSX.