Canada's Montreal Exchange has joined the GLOBEX Alliance, which...

Canada’s Montreal Exchange has joined the GLOBEX Alliance, which already includes the Chicago Mercantile Exchange, the ParisBourse SA, the Singapore International Monetary Exchange and the Brazilian Bolsa de Mercadorias & Futures, which joined the alliance Sept. 10. The Montreal Exchange said it intends to use the same NSC Electronic Trading System developed by ParisBourse and used by all of the GLOBEX Alliance partners. Under the GLOBEX Alliance, members of each exchange will have direct access to all the products of all the markets inside the alliance. They will also receive trading privileges for the electronically traded products of the other exchanges and cross-margining of positions to reduce the capital requirements of their customers and members. In addition, the alliance partners are establishing a harmonized set of electronic trading rules and policies.