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TSX And ISE Create New Derivatives Exchange DEX To Be Launched In 2009

TSX Group and International Securities Exchange (ISE) have created DEX, a new derivatives exchange to be launched in March 2009. DEX will be owned 52% by TSX Group and 48% by ISE and will list and trade options, futures and

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TSX Group and International Securities Exchange (ISE) have created DEX, a new derivatives exchange to be launched in March 2009.

DEX will be owned 52% by TSX Group and 48% by ISE and will list and trade options, futures and options on futures on a range of Canadian securities.

Between now and the launch in 2009, both TSX Group and ISE will work on the implementation strategy. DEX will create a new platform to expand the trading alternatives available for investors in Canadian securities.

The anticipated cost of establishing this new exchange is approximately CAD 25 million. The costs will be shared between TSX Group and ISE according to the share ownership of the new initiative.

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