MX recognizes Quebec university finance students
MONTRÉAL, Dec. 5, 2012 /CNW/ - Montréal Exchange Inc. (MX), a wholly-owned subsidiary of TMX Group Limited and Canada's derivatives exchange, today announced the winners of the 2012 University Partnership Awards. The awards ceremony was held in conjunction with TMX Group's Board of Directors reception held last evening at the MX.
The Options Trading Simulation and the Canadian Derivatives Exchange Scholars Program were launched in February 2012 as part of MX's financial education initiatives. These programs were created to support university finance students interested in learning about derivatives products, as well as to reinforce MX's position as the centre of excellence for derivatives.
"We are extremely pleased to recognize these students in MX's first edition of the University Partnership Awards," said Alain Miquelon, President and CEO, Montréal Exchange Inc. and Group Head of Derivatives, TMX Group. "Through this partnership with the universities, MX is able to support financial education, as well as to provide students who are keen to learn with the resources they need as they begin their careers."
For the Options Trading Simulation, more than 475 students formed teams and constructed options portfolios with an initial $100,000. The students used MX's options trading simulator to trade their option classes, as well as execute the predefined trading strategies. Neil McAlpine and Spencer Powell from McGill University formed the winning team, M&P Trading, with a total return of 98%.
The Canadian Derivatives Exchange Scholars Program awarded a university graduate scholarship of $15,000 to Quentin Rajon of Université Laval. The university postgraduate scholarship of $20,000 went to Frédéric Godin of HEC Montréal.
The Options Trading Simulation will begin again on February 4, 2013 and the deadline for the Scholarship Program is May 17, 2013. For more details about the Options Trading Simulation please visit m-x.ca/sim and for the Canadian Derivatives Exchange Scholars Program please visit m-x.ca/bourses.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE Toronto Stock Exchange